InterContinental Hotels Group (NYSE:IHG) Research Coverage Started at Citigroup

Citigroup started coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a research note released on Monday, MarketBeat.com reports. The firm issued a sell rating on the stock.

Several other analysts also recently commented on the company. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Up 0.7 %

NYSE:IHG opened at $125.29 on Monday. InterContinental Hotels Group has a 12-month low of $91.57 and a 12-month high of $137.25. The stock’s fifty day simple moving average is $128.62 and its 200-day simple moving average is $118.04. The firm has a market capitalization of $19.85 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.69 and a beta of 1.32.

Hedge Funds Weigh In On InterContinental Hotels Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after purchasing an additional 351,723 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $13,796,000. ABC Arbitrage SA acquired a new position in shares of InterContinental Hotels Group in the fourth quarter valued at about $11,846,000. Arrowstreet Capital Limited Partnership increased its position in InterContinental Hotels Group by 241.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the company’s stock worth $15,965,000 after acquiring an additional 90,339 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in InterContinental Hotels Group in the 3rd quarter worth about $86,000. 15.09% of the stock is owned by institutional investors.

About InterContinental Hotels Group

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.