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

Intercontinental Hotels Group (NYSE:IHG) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $150.25 and last traded at $150.84, with a volume of 90000 shares trading hands. The stock had previously closed at $145.73.

Analysts Set New Price Targets

IHG has been the subject of several research analyst reports. Berenberg Bank upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Jefferies Financial Group upgraded Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Intercontinental Hotels Group Stock Performance

The stock has a 50 day simple moving average of $139.83 and a 200-day simple moving average of $129.20.

Institutional Trading of Intercontinental Hotels Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CCLA Investment Management bought a new position in shares of Intercontinental Hotels Group in the fourth quarter worth approximately $114,306,000. CIBC Bancorp USA Inc. purchased a new position in Intercontinental Hotels Group in the 3rd quarter worth approximately $42,374,000. JPMorgan Chase & Co. lifted its position in Intercontinental Hotels Group by 125.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after acquiring an additional 251,647 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in Intercontinental Hotels Group during the 4th quarter valued at $26,758,000. Finally, Lazard Asset Management LLC boosted its stake in Intercontinental Hotels Group by 98.4% during the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock valued at $41,044,000 after purchasing an additional 176,502 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors.

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.