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

InterContinental Hotels Group PLC (NYSE:IHG) saw an uptick in trading volume on Monday . 349,015 shares traded hands during trading, an increase of 103% from the previous session’s volume of 171,956 shares.The stock last traded at $107.18 and had previously closed at $105.08.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IHG. StockNews.com lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Sanford C. Bernstein lowered InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a report on Wednesday, March 13th. Finally, Jefferies Financial Group lowered InterContinental Hotels Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

The stock has a 50-day moving average of $101.15 and a two-hundred day moving average of $99.47.

Hedge Funds Weigh In On InterContinental Hotels Group

A number of large investors have recently bought and sold shares of IHG. Russell Investments Group Ltd. increased its stake in shares of InterContinental Hotels Group by 46.9% during the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after buying an additional 106 shares during the period. Parallel Advisors LLC grew its stake in InterContinental Hotels Group by 15.8% in the fourth quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock worth $75,000 after purchasing an additional 113 shares during the period. PNC Financial Services Group Inc. grew its stake in InterContinental Hotels Group by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after purchasing an additional 174 shares during the period. EverSource Wealth Advisors LLC grew its stake in InterContinental Hotels Group by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock worth $48,000 after purchasing an additional 191 shares during the period. Finally, First Trust Direct Indexing L.P. grew its stake in InterContinental Hotels Group by 1.9% in the fourth quarter. First Trust Direct Indexing L.P. now owns 12,147 shares of the company’s stock worth $1,108,000 after purchasing an additional 230 shares during the period. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Company Profile

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.