InterContinental Hotels Group (NYSE:IHG) Upgraded by The Goldman Sachs Group to “Buy”

InterContinental Hotels Group (NYSE:IHG) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, FinViz reports.

InterContinental Hotels Group Price Performance

Shares of IHG opened at $104.26 on Wednesday. InterContinental Hotels Group has a 1-year low of $70.06 and a 1-year high of $112.08. The firm has a 50 day simple moving average of $100.74 and a 200-day simple moving average of $101.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Natixis Advisors LLC increased its position in shares of 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 purchasing an additional 20,280 shares during the period. CIBC Private Wealth Group LLC grew its position in InterContinental Hotels Group by 41.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 632,644 shares of the company’s stock valued at $57,546,000 after purchasing an additional 185,045 shares in the last quarter. Raymond James & Associates grew its position in InterContinental Hotels Group by 1.2% during the second quarter. Raymond James & Associates now owns 123,232 shares of the company’s stock valued at $13,056,000 after purchasing an additional 1,475 shares in the last quarter. Henry James International Management Inc. grew its position in InterContinental Hotels Group by 13.1% in the first quarter. Henry James International Management Inc. now owns 121,475 shares of the company’s stock worth $13,000,000 after acquiring an additional 14,071 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in InterContinental Hotels Group by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock worth $6,179,000 after acquiring an additional 3,431 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

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.