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

InterContinental Hotels Group PLC (NYSE:IHG)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $112.68, but opened at $108.43. InterContinental Hotels Group shares last traded at $108.15, with a volume of 54,652 shares trading hands.

Analysts Set New Price Targets

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

InterContinental Hotels Group Price Performance

The stock has a 50 day simple moving average of $126.68 and a two-hundred day simple moving average of $120.24. The company has a market cap of $17.26 billion, a PE ratio of 19.40, a PEG ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be issued a dividend of $1.144 per share. This represents a yield of 1.4%. The ex-dividend date is Friday, April 4th. This is a positive change from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. InterContinental Hotels Group’s dividend payout ratio is currently 39.36%.

Institutional Trading of InterContinental Hotels Group

A number of institutional investors have recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at $25,000. Farther Finance Advisors LLC increased its stake in InterContinental Hotels Group by 67.3% during 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 last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $42,000. Venturi Wealth Management LLC acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after buying an additional 461 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

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.