ABC Arbitrage SA Increases Stake in Intercontinental Hotels Group $IHG

ABC Arbitrage SA increased its stake in Intercontinental Hotels Group (NYSE:IHG) by 31.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,259 shares of the company’s stock after acquiring an additional 31,754 shares during the period. Intercontinental Hotels Group makes up 2.4% of ABC Arbitrage SA’s investment portfolio, making the stock its 12th largest position. ABC Arbitrage SA’s holdings in Intercontinental Hotels Group were worth $17,918,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Intercontinental Hotels Group in the 1st quarter worth $243,000. Sequoia Financial Advisors LLC increased its stake in Intercontinental Hotels Group by 84.3% during the first quarter. Sequoia Financial Advisors LLC now owns 3,292 shares of the company’s stock worth $439,000 after acquiring an additional 1,506 shares during the last quarter. PUREfi Wealth LLC increased its stake in Intercontinental Hotels Group by 20.7% during the first quarter. PUREfi Wealth LLC now owns 2,074 shares of the company’s stock worth $277,000 after acquiring an additional 355 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Intercontinental Hotels Group by 46.4% in the 1st quarter. QRG Capital Management Inc. now owns 14,924 shares of the company’s stock valued at $1,992,000 after purchasing an additional 4,733 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of Intercontinental Hotels Group by 15.2% in the 1st quarter. HB Wealth Management LLC now owns 2,232 shares of the company’s stock valued at $298,000 after purchasing an additional 295 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Hotels Group Trading Down 1.6%

IHG stock opened at $162.34 on Tuesday. Intercontinental Hotels Group has a 1 year low of $113.32 and a 1 year high of $175.89. The stock has a 50-day simple moving average of $160.93 and a 200-day simple moving average of $146.65.

Wall Street Analysts Forecast Growth

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

About Intercontinental Hotels Group

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.