InterContinental Hotels Group (NYSE:IHG) Hits New 1-Year High – Here’s What Happened

InterContinental Hotels Group PLC (NYSE:IHG)’s share price reached a new 52-week high on Thursday . The company traded as high as $122.84 and last traded at $122.84, with a volume of 9332 shares trading hands. The stock had previously closed at $122.73.

Wall Street Analysts Forecast Growth

IHG has been the topic of several recent research reports. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

The company’s 50-day simple moving average is $113.80 and its two-hundred day simple moving average is $105.80. The firm has a market cap of $19.62 billion, a PE ratio of 25.21, a PEG ratio of 1.98 and a beta of 1.31.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock valued at $705,758,000 after acquiring an additional 351,723 shares in the last quarter. Natixis Advisors LLC lifted its stake in InterContinental Hotels Group by 2.8% during the 2nd quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock valued at $77,984,000 after acquiring an additional 20,280 shares during the period. Raymond James & Associates raised its stake in InterContinental Hotels Group by 1.2% during the 2nd quarter. Raymond James & Associates now owns 123,232 shares of the company’s stock valued at $13,056,000 after buying an additional 1,475 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of InterContinental Hotels Group by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock worth $6,179,000 after buying an additional 3,431 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of InterContinental Hotels Group by 8.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 50,094 shares of the company’s stock worth $5,307,000 after purchasing an additional 4,087 shares during the period. 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.