InterContinental Hotels Group (NYSE:IHG) Shares Gap Down – Here’s What Happened

InterContinental Hotels Group PLC (NYSE:IHG) shares gapped down prior to trading on Tuesday . The stock had previously closed at $118.36, but opened at $115.55. InterContinental Hotels Group shares last traded at $114.66, with a volume of 100,130 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IHG shares. Citigroup initiated coverage on shares of InterContinental Hotels Group in a research note on Monday, February 24th. They set a “sell” rating for the company. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Finally, Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

InterContinental Hotels Group Trading Down 2.0 %

The firm has a market capitalization of $18.34 billion, a PE ratio of 20.55, a P/E/G ratio of 1.69 and a beta of 1.33. The firm has a 50 day simple moving average of $128.27 and a 200 day simple moving average of $119.77.

Hedge Funds Weigh In On InterContinental Hotels Group

Hedge funds have recently bought and sold shares of the business. Independent Advisor Alliance raised its holdings in shares of InterContinental Hotels Group by 0.8% during the fourth quarter. Independent Advisor Alliance now owns 9,674 shares of the company’s stock valued at $1,209,000 after purchasing an additional 76 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of InterContinental Hotels Group by 2.3% in the 4th quarter. Denali Advisors LLC now owns 3,870 shares of the company’s stock worth $483,000 after buying an additional 87 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock worth $31,000 after acquiring an additional 101 shares during the period. Moors & Cabot Inc. increased its position in InterContinental Hotels Group by 3.2% during the fourth quarter. Moors & Cabot Inc. now owns 4,415 shares of the company’s stock valued at $552,000 after acquiring an additional 136 shares during the last quarter. Finally, Ballentine Partners LLC lifted its holdings in InterContinental Hotels Group by 7.1% in the fourth quarter. Ballentine Partners LLC now owns 2,344 shares of the company’s stock valued at $293,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors 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.