Highland Capital Management LLC Lowers Position in InterContinental Hotels Group PLC (NYSE:IHG)

Highland Capital Management LLC decreased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,440 shares of the company’s stock after selling 475 shares during the period. Highland Capital Management LLC’s holdings in InterContinental Hotels Group were worth $2,304,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in InterContinental Hotels Group by 130.9% in the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after purchasing an additional 436 shares in the last quarter. World Investment Advisors LLC purchased a new position in InterContinental Hotels Group during the 3rd quarter valued at about $86,000. R Squared Ltd bought a new stake in InterContinental Hotels Group during the fourth quarter worth about $89,000. Transamerica Financial Advisors Inc. increased its stake in shares of 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 valued at $111,000 after purchasing an additional 1,001 shares in the last quarter. Finally, GAMMA Investing LLC lifted 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 valued at $182,000 after purchasing an additional 422 shares during the last quarter. Institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IHG shares. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley lowered InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

InterContinental Hotels Group stock opened at $135.44 on Friday. InterContinental Hotels Group PLC has a one year low of $91.57 and a one year high of $136.58. The business’s fifty day moving average is $126.81 and its 200 day moving average is $113.98. The stock has a market capitalization of $21.46 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32.

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.