Atlantic Trust Group LLC increased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 28.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,854 shares of the company’s stock after purchasing an additional 12,242 shares during the quarter. Atlantic Trust Group LLC’s holdings in InterContinental Hotels Group were worth $3,419,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Financial Gravity Companies Inc. bought a new position in InterContinental Hotels Group during the fourth quarter worth $143,000. UBS Group AG lifted its stake in InterContinental Hotels Group by 238.8% during the first quarter. UBS Group AG now owns 2,175 shares of the company’s stock worth $133,000 after purchasing an additional 1,533 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in InterContinental Hotels Group by 133.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,625 shares of the company’s stock worth $161,000 after purchasing an additional 1,502 shares during the last quarter. US Bancorp DE lifted its stake in InterContinental Hotels Group by 30.9% during the fourth quarter. US Bancorp DE now owns 3,332 shares of the company’s stock worth $212,000 after purchasing an additional 786 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in InterContinental Hotels Group during the first quarter worth $285,000. Hedge funds and other institutional investors own 6.38% of the company’s stock.
IHG stock opened at $63.21 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of -2.22. The firm has a market capitalization of $12.25 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 2.32 and a beta of 1.32. InterContinental Hotels Group PLC has a 1 year low of $49.03 and a 1 year high of $69.23.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded InterContinental Hotels Group from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research note on Thursday, June 21st. JPMorgan Chase & Co. upgraded InterContinental Hotels Group from an “underweight” rating to a “neutral” rating in a research note on Friday, June 15th. ValuEngine cut InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Bank of America cut InterContinental Hotels Group from a “buy” rating to a “neutral” rating in a research note on Friday, May 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.79.
InterContinental Hotels Group Profile
InterContinental Hotels Group PLC owns, manages, franchises, and leases hotels in the Americas, Europe, Asia, the Middle East, Africa, and Greater China. The company operates hotels, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, and Candlewood Suites brands.
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