QRG Capital Management Inc. Sells 6,250 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

QRG Capital Management Inc. reduced its holdings in InterContinental Hotels Group PLC (NYSE:IHG) by 22.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,410 shares of the company’s stock after selling 6,250 shares during the quarter. QRG Capital Management Inc.’s holdings in InterContinental Hotels Group were worth $2,675,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Richardson Financial Services Inc. bought a new stake in InterContinental Hotels Group during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC acquired a new position in shares of InterContinental Hotels Group in the fourth quarter valued at approximately $72,000. Assetmark Inc. increased its position in shares of InterContinental Hotels Group by 130.9% during the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after acquiring an additional 436 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of InterContinental Hotels Group during the third quarter worth $86,000. Finally, R Squared Ltd bought a new stake in InterContinental Hotels Group in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Price Performance

Shares of NYSE IHG opened at $126.89 on Friday. The business has a 50-day moving average of $128.68 and a 200-day moving average of $118.51. The stock has a market capitalization of $20.11 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.69 and a beta of 1.32. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IHG. Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Citigroup began coverage on InterContinental Hotels Group in a research note on Monday, February 24th. They issued a “sell” rating on the stock. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, InterContinental Hotels Group currently has a consensus rating of “Hold”.

InterContinental Hotels Group 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.