InterContinental Hotels Group (NYSE:IHG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of InterContinental Hotels Group PLC (NYSE:IHG) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $111.09 and traded as high as $123.44. InterContinental Hotels Group shares last traded at $122.74, with a volume of 104,988 shares.

Analyst Upgrades and Downgrades

IHG has been the subject of a number of recent analyst reports. Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, InterContinental Hotels Group presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Down 0.9 %

The stock has a market capitalization of $19.46 billion, a P/E ratio of 24.45, a PEG ratio of 1.88 and a beta of 1.33. The firm’s 50-day simple moving average is $123.31 and its 200 day simple moving average is $111.09.

Institutional Trading of InterContinental Hotels Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in InterContinental Hotels Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock worth $1,337,000 after buying an additional 106 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of InterContinental Hotels Group by 0.6% during the third quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock worth $3,056,000 after purchasing an additional 152 shares during the period. Ballentine Partners LLC lifted its holdings in shares of InterContinental Hotels Group by 7.2% during the second quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock valued at $244,000 after purchasing an additional 154 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its position in shares of InterContinental Hotels Group by 1.6% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 11,485 shares of the company’s stock valued at $1,269,000 after purchasing an additional 177 shares during the period. Finally, MML Investors Services LLC increased its stake in InterContinental Hotels Group by 3.2% in the 3rd quarter. MML Investors Services LLC now owns 6,792 shares of the company’s stock worth $750,000 after purchasing an additional 212 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

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.