Intercontinental Hotels Group (NYSE:IHG) Hits New 52-Week High – Here’s What Happened

Intercontinental Hotels Group (NYSE:IHG)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $173.38 and last traded at $170.8740, with a volume of 304994 shares. The stock had previously closed at $170.50.

Analysts Set New Price Targets

IHG has been the subject of a number of research analyst reports. Sanford C. Bernstein lifted their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a report on Friday, May 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.00.

Intercontinental Hotels Group Stock Up 0.2%

The company has a fifty day moving average of $151.40 and a 200 day moving average of $142.60.

Institutional Trading of Intercontinental Hotels Group

Large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in shares of Intercontinental Hotels Group by 178.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company’s stock worth $25,000 after acquiring an additional 116 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Intercontinental Hotels Group by 1,453.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company’s stock valued at $28,000 after purchasing an additional 189 shares during the period. Fifth Third Bancorp grew its holdings in Intercontinental Hotels Group by 111.0% during the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Intercontinental Hotels Group by 72.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Intercontinental Hotels Group by 525.6% during the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company’s stock valued at $38,000 after purchasing an additional 226 shares during the period. Institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Company Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.