Massachusetts Financial Services Co. MA Cuts Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Massachusetts Financial Services Co. MA cut its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 9.3% during the 3rd quarter, Holdings Channel reports. The firm owned 45,413 shares of the company’s stock after selling 4,681 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in InterContinental Hotels Group were worth $5,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in InterContinental Hotels Group in the second quarter valued at about $3,892,000. Natixis Advisors LLC boosted its stake in InterContinental Hotels Group by 2.8% in the second 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 last quarter. Mediolanum International Funds Ltd purchased a new position in InterContinental Hotels Group in the third quarter valued at about $1,699,000. Crossmark Global Holdings Inc. boosted its stake in InterContinental Hotels Group by 86.6% in the third quarter. Crossmark Global Holdings Inc. now owns 32,392 shares of the company’s stock valued at $3,579,000 after acquiring an additional 15,031 shares during the last quarter. Finally, Capital Wealth Planning LLC boosted its stake in InterContinental Hotels Group by 125.2% in the second quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company’s stock valued at $2,570,000 after acquiring an additional 13,487 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

InterContinental Hotels Group Price Performance

NYSE IHG opened at $125.78 on Wednesday. The company’s 50 day moving average is $114.21 and its 200-day moving average is $106.06. InterContinental Hotels Group PLC has a 12-month low of $77.84 and a 12-month high of $126.14.

Analysts Set New Price Targets

A number of research firms have weighed in on IHG. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

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.