Intercontinental Hotels Group $IHG Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in Intercontinental Hotels Group (NYSE:IHG) by 198.5% during the first quarter, Holdings Channel reports. The firm owned 60,600 shares of the company’s stock after buying an additional 40,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Intercontinental Hotels Group were worth $8,088,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. ABC Arbitrage SA lifted its stake in Intercontinental Hotels Group by 31.0% during the 1st quarter. ABC Arbitrage SA now owns 134,259 shares of the company’s stock worth $17,918,000 after acquiring an additional 31,754 shares in the last quarter. CCLA Investment Management acquired a new position in Intercontinental Hotels Group in the 4th quarter valued at about $114,306,000. Goldman Sachs Group Inc. increased its stake in Intercontinental Hotels Group by 1.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock worth $100,006,000 after purchasing an additional 9,235 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Intercontinental Hotels Group by 55.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company’s stock worth $54,261,000 after purchasing an additional 145,360 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Intercontinental Hotels Group by 100.2% during the fourth quarter. M&T Bank Corp now owns 10,374 shares of the company’s stock worth $1,461,000 after purchasing an additional 5,192 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Trading Down 2.7%

IHG opened at $157.91 on Tuesday. Intercontinental Hotels Group has a one year low of $114.40 and a one year high of $175.89. The business’s 50-day simple moving average is $163.62 and its 200-day simple moving average is $148.62.

Analysts Set New Price Targets

IHG has been the subject of a number of research reports. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Zacks Research lowered shares of Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Jefferies Financial Group raised 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, Sanford C. Bernstein upped their price objective on 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Intercontinental Hotels Group currently has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group 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.