Intercontinental Hotels Group (NYSE:IHG) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Intercontinental Hotels Group (NYSE:IHG) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $151.34 and traded as high as $165.65. Intercontinental Hotels Group shares last traded at $163.0150, with a volume of 194,858 shares traded.

Wall Street Analysts Forecast Growth

IHG has been the subject of a number of research reports. Jefferies Financial Group lifted their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Sanford C. Bernstein upped their price objective on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research note on Friday, May 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Finally, Zacks Research raised Intercontinental Hotels Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Hotels Group currently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Intercontinental Hotels Group Stock Performance

The company’s 50 day moving average is $162.62 and its 200 day moving average is $151.42.

Intercontinental Hotels Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.645 per share. The ex-dividend date is Friday, August 21st. This represents a yield of 81.0%.

Hedge Funds Weigh In On Intercontinental Hotels Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp boosted its position in Intercontinental Hotels Group by 228.2% in the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock valued at $531,000 after buying an additional 3,368 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 worth $73,310,000 after buying an additional 16,461 shares during the period. Russell Investments Group Ltd. raised its holdings in Intercontinental Hotels Group by 44.9% in the second quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock worth $290,000 after purchasing an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Intercontinental Hotels Group by 42.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock worth $50,000 after purchasing an additional 129 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Intercontinental Hotels Group by 56.3% during the second quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock worth $108,000 after purchasing an additional 336 shares in the last quarter. 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.