InterContinental Hotels Group (NYSE:IHG) Hits New 52-Week High – Here’s Why

InterContinental Hotels Group PLC (NYSE:IHG)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $133.36 and last traded at $133.36, with a volume of 28089 shares changing hands. The stock had previously closed at $131.15.

Analyst Ratings Changes

A number of research analysts have recently 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. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

The firm has a 50 day moving average of $126.12 and a 200-day moving average of $113.50.

Institutional Trading of InterContinental Hotels Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in IHG. Envestnet Asset Management Inc. increased its stake in 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 acquiring an additional 3,431 shares during the last quarter. Bank of Montreal Can bought a new stake in InterContinental Hotels Group in the 2nd quarter worth approximately $3,892,000. Squarepoint Ops LLC bought a new stake in InterContinental Hotels Group in the 2nd quarter worth approximately $1,148,000. AQR Capital Management LLC increased its stake in InterContinental Hotels Group by 8.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,699 shares of the company’s stock worth $710,000 after acquiring an additional 538 shares during the last quarter. Finally, Creative Planning increased its stake in InterContinental Hotels Group by 3.3% in the 2nd quarter. Creative Planning now owns 22,756 shares of the company’s stock worth $2,411,000 after acquiring an additional 723 shares during the last quarter. Institutional investors own 15.09% of the company’s stock.

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.