Intercontinental Hotels Group (NYSE:IHG) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $147.32 and traded as high as $157.35. Intercontinental Hotels Group shares last traded at $156.1350, with a volume of 190,513 shares.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IHG. Jefferies Financial Group boosted their price target on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Finally, Sanford C. Bernstein raised their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.50.

Intercontinental Hotels Group Price Performance

The firm has a fifty day simple moving average of $162.27 and a 200 day simple moving average of $147.32.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. increased its stake in Intercontinental Hotels Group by 178.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after buying an additional 116 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Intercontinental Hotels Group by 1,453.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock valued at $28,000 after buying an additional 189 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Intercontinental Hotels Group by 111.0% during the 4th quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Intercontinental Hotels Group by 72.2% during the 4th quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after acquiring an additional 91 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Intercontinental Hotels Group by 525.6% during the 4th quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.