Quantinno Capital Management LP Has $12.45 Million Stake in Intercontinental Hotels Group $IHG

Quantinno Capital Management LP boosted its holdings in Intercontinental Hotels Group (NYSE:IHG) by 25.0% in the first quarter, Holdings Channel reports. The firm owned 93,268 shares of the company’s stock after purchasing an additional 18,631 shares during the quarter. Quantinno Capital Management LP’s holdings in Intercontinental Hotels Group were worth $12,448,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CCLA Investment Management bought a new stake in Intercontinental Hotels Group during the 4th quarter worth about $114,306,000. Morgan Stanley increased its position in shares of Intercontinental Hotels Group by 3.9% in the fourth quarter. Morgan Stanley now owns 764,049 shares of the company’s stock valued at $107,601,000 after acquiring an additional 28,526 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Intercontinental Hotels Group by 1.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company’s stock valued at $100,006,000 after acquiring an additional 9,235 shares during the last quarter. Bank of America Corp DE raised its holdings in Intercontinental Hotels Group by 0.8% during the third quarter. Bank of America Corp DE now owns 501,692 shares of the company’s stock worth $60,835,000 after acquiring an additional 4,080 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Intercontinental Hotels Group by 3.9% during the fourth quarter. Natixis Advisors LLC now owns 465,747 shares of the company’s stock worth $65,591,000 after acquiring an additional 17,503 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IHG shares. Zacks Research downgraded Intercontinental Hotels Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Sanford C. Bernstein increased their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company 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 research note on Tuesday, May 26th. Finally, Jefferies Financial Group boosted their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Intercontinental Hotels Group has a consensus rating of “Moderate Buy” and an average target price of $174.50.

Intercontinental Hotels Group Trading Down 2.7%

Shares of NYSE:IHG opened at $157.91 on Tuesday. Intercontinental Hotels Group has a 52-week low of $114.40 and a 52-week high of $175.89. The company has a 50-day simple moving average of $163.62 and a 200 day simple moving average of $148.62.

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.