InterContinental Hotels Group (NYSE:IHG) Cut to “Underweight” at Morgan Stanley

Morgan Stanley lowered shares of InterContinental Hotels Group (NYSE:IHG) from an equal weight rating to an underweight rating in a research note released on Wednesday morning, MarketBeat Ratings reports.

IHG has been the subject of a number of other reports. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

IHG opened at $122.77 on Wednesday. The stock has a market capitalization of $19.46 billion, a PE ratio of 24.46, a P/E/G ratio of 1.88 and a beta of 1.32. InterContinental Hotels Group has a one year low of $90.90 and a one year high of $131.68. The business’s 50 day moving average price is $124.07 and its 200 day moving average price is $111.56.

Hedge Funds Weigh In On InterContinental Hotels Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after purchasing an additional 73,361 shares during the period. Hsbc Holdings PLC raised its stake in InterContinental Hotels Group by 133.3% in the second quarter. Hsbc Holdings PLC now owns 11,433 shares of the company’s stock valued at $1,212,000 after buying an additional 6,533 shares in the last quarter. World Investment Advisors LLC purchased a new stake in InterContinental Hotels Group during the 3rd quarter worth about $86,000. Capital Wealth Planning LLC boosted its position in shares of InterContinental Hotels Group by 125.2% during the 2nd quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock worth $2,570,000 after acquiring an additional 13,487 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of InterContinental Hotels Group by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock valued at $1,943,000 after acquiring an additional 1,107 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

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.