SG Americas Securities LLC Grows Stock Holdings in Intercontinental Hotels Group $IHG

SG Americas Securities LLC grew its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 18.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,522 shares of the company’s stock after purchasing an additional 3,837 shares during the quarter. SG Americas Securities LLC’s holdings in Intercontinental Hotels Group were worth $2,828,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in Intercontinental Hotels Group by 170.5% in the 1st quarter. Millennium Management LLC now owns 305,177 shares of the company’s stock worth $33,444,000 after buying an additional 192,342 shares during the last quarter. ABC Arbitrage SA purchased a new stake in Intercontinental Hotels Group in the second quarter valued at approximately $11,987,000. Cubist Systematic Strategies LLC purchased a new position in Intercontinental Hotels Group during the first quarter worth approximately $6,203,000. Natixis Advisors LLC boosted its holdings in shares of Intercontinental Hotels Group by 2.8% in the 1st quarter. Natixis Advisors LLC now owns 717,617 shares of the company’s stock valued at $78,644,000 after purchasing an additional 19,467 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Intercontinental Hotels Group by 2.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after buying an additional 16,461 shares during the period. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Price Performance

IHG opened at $126.11 on Wednesday. Intercontinental Hotels Group has a 1-year low of $94.78 and a 1-year high of $137.25. The company has a 50-day moving average of $123.13 and a 200-day moving average of $119.98.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IHG. Morgan Stanley raised Intercontinental Hotels Group from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. raised shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday, September 26th. Wall Street Zen lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Hotels Group presently has an average 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.