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

Shares of Intercontinental Hotels Group (NYSE:IHG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $151.34 and traded as high as $165.65. Intercontinental Hotels Group shares last traded at $163.0150, with a volume of 194,858 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IHG shares. 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 note on Friday, May 15th. Zacks Research lowered Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. Finally, Jefferies Financial Group raised their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intercontinental Hotels Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Intercontinental Hotels Group Price Performance

The stock’s 50-day moving average price is $162.80 and its 200 day moving average price is $151.34.

Intercontinental Hotels Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 21st will be paid a dividend of $0.645 per share. This represents a yield of 81.0%. The ex-dividend date of this dividend is Friday, August 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IHG. Brown Brothers Harriman & Co. increased its holdings in shares of Intercontinental Hotels Group by 178.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Intercontinental Hotels Group by 1,453.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock worth $28,000 after acquiring an additional 189 shares during the period. Fifth Third Bancorp boosted its position 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 valued at $30,000 after acquiring an additional 111 shares during the last quarter. 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 grew its holdings in shares of Intercontinental Hotels Group by 525.6% in the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after purchasing an additional 226 shares during the period. 15.09% of the stock is currently 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.