Intercontinental Hotels Group (NYSE:IHG) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemIntercontinental Hotels Group (NYSE:IHG – Get Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $128.04 and traded as high as $143.45. Intercontinental Hotels Group shares last traded at $142.8350, with a volume of 167,642 shares traded.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. 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 raised Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research report on Friday, December 12th. Wall Street Zen downgraded Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.
View Our Latest Analysis on Intercontinental Hotels Group
Intercontinental Hotels Group Trading Down 0.1%
The stock’s fifty day moving average is $138.50 and its two-hundred day moving average is $128.04.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 3,368 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 purchasing an additional 16,461 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Intercontinental Hotels Group in the 2nd quarter valued at approximately $292,000. Janney Montgomery Scott LLC boosted its stake in shares of Intercontinental Hotels Group by 43.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,600 shares of the company’s stock valued at $415,000 after buying an additional 1,084 shares during the last quarter. Finally, Callan Family Office LLC grew its position in shares of Intercontinental Hotels Group by 51.2% during the second quarter. Callan Family Office LLC now owns 9,068 shares of the company’s stock worth $1,046,000 after buying an additional 3,071 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.
About Intercontinental Hotels Group
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.