Intercontinental Hotels Group (NYSE:IHG) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

Intercontinental Hotels Group Price Performance

The firm’s fifty day simple moving average is $162.38 and its 200 day simple moving average is $147.43.

Institutional Trading of Intercontinental Hotels Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its holdings in Intercontinental Hotels Group by 228.2% in the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock valued at $531,000 after acquiring an additional 3,368 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Intercontinental Hotels Group by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after purchasing an additional 16,461 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Intercontinental Hotels Group by 44.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock worth $290,000 after purchasing an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Intercontinental Hotels Group by 42.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock valued at $50,000 after purchasing an additional 129 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Intercontinental Hotels Group by 56.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock valued at $108,000 after purchasing an additional 336 shares during the period. 15.09% of the stock is owned by institutional investors and hedge funds.

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.