InterContinental Hotels Group (NYSE:IHG) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of InterContinental Hotels Group PLC (NYSE:IHG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $111.09 and traded as high as $123.44. InterContinental Hotels Group shares last traded at $122.74, with a volume of 104,988 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, InterContinental Hotels Group currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

The stock has a 50-day moving average price of $123.31 and a 200-day moving average price of $111.13. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.88 and a beta of 1.33.

Institutional Investors Weigh In On InterContinental Hotels Group

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of InterContinental Hotels Group by 130.9% during the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after buying an additional 436 shares during the last quarter. Transamerica Financial Advisors Inc. lifted its position in InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock worth $111,000 after acquiring an additional 1,001 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of InterContinental Hotels Group by 40.7% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock worth $182,000 after acquiring an additional 422 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of InterContinental Hotels Group by 226.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,477 shares of the company’s stock valued at $156,000 after purchasing an additional 1,025 shares during the last quarter. Finally, AdvisorShares Investments LLC increased its stake in shares of InterContinental Hotels Group by 73.0% during the second quarter. AdvisorShares Investments LLC now owns 1,583 shares of the company’s stock worth $164,000 after purchasing an additional 668 shares during the period. Institutional investors and hedge funds 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.