InterContinental Hotels Group (NYSE:IHG) Sees Unusually-High Trading Volume

InterContinental Hotels Group PLC (NYSE:IHG) shares saw an uptick in trading volume on Monday . 188,671 shares changed hands during trading, an increase of 9% from the previous session’s volume of 173,284 shares.The stock last traded at $101.39 and had previously closed at $100.45.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IHG. Sanford C. Bernstein downgraded InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research report on Wednesday, March 13th. Jefferies Financial Group downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. StockNews.com downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Societe Generale downgraded InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

The firm has a 50-day moving average of $101.39 and a 200-day moving average of $95.08.

InterContinental Hotels Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, May 14th. Shareholders of record on Friday, April 5th were issued a $1.04 dividend. This represents a yield of 1.4%. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.48. The ex-dividend date of this dividend was Thursday, April 4th.

Institutional Investors Weigh In On InterContinental Hotels Group

Several hedge funds have recently added to or reduced their stakes in IHG. Natixis Advisors L.P. boosted its holdings in InterContinental Hotels Group by 214.8% in the third quarter. Natixis Advisors L.P. now owns 576,718 shares of the company’s stock valued at $43,110,000 after purchasing an additional 393,528 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in InterContinental Hotels Group by 41.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after purchasing an additional 185,045 shares during the last quarter. Optiver Holding B.V. purchased a new stake in InterContinental Hotels Group in the third quarter valued at $5,302,000. LPL Financial LLC boosted its holdings in InterContinental Hotels Group by 474.8% in the third quarter. LPL Financial LLC now owns 64,546 shares of the company’s stock valued at $4,825,000 after purchasing an additional 53,316 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth about $2,615,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

About InterContinental Hotels Group

InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.