Arrowstreet Capital Limited Partnership raised its holdings in Intercontinental Hotels Group (NYSE:IHG) by 12.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 385,813 shares of the company’s stock after purchasing an additional 42,491 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.20% of Intercontinental Hotels Group worth $21,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Citigroup Inc. grew its stake in Intercontinental Hotels Group by 21.6% in the 2nd quarter. Citigroup Inc. now owns 1,816 shares of the company’s stock valued at $100,000 after purchasing an additional 322 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Intercontinental Hotels Group in the 1st quarter valued at $207,000. Cubist Systematic Strategies LLC bought a new position in Intercontinental Hotels Group in the 2nd quarter valued at $233,000. Gotham Asset Management LLC bought a new position in Intercontinental Hotels Group in the 2nd quarter valued at $308,000. Finally, Ameriprise Financial Inc. grew its stake in Intercontinental Hotels Group by 9.0% in the 1st quarter. Ameriprise Financial Inc. now owns 6,694 shares of the company’s stock valued at $328,000 after purchasing an additional 553 shares during the period. Hedge funds and other institutional investors own 6.70% of the company’s stock.
Intercontinental Hotels Group (NYSE:IHG) traded down 0.17% on Wednesday, hitting $54.14. The stock had a trading volume of 7,924 shares. Intercontinental Hotels Group has a 52 week low of $39.84 and a 52 week high of $57.80. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 24.28 and a beta of 1.37. The firm has a 50-day moving average of $51.01 and a 200 day moving average of $53.68.
The business also recently declared a special dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 1st were issued a dividend of $0.33 per share. The ex-dividend date was Wednesday, August 30th.
A number of research analysts have issued reports on IHG shares. Zacks Investment Research downgraded Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 6th. BidaskClub downgraded Intercontinental Hotels Group from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Bank of America Corporation restated a “buy” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, July 25th. Credit Suisse Group downgraded Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a research note on Monday, June 19th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Thursday, June 15th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $44.00.
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About Intercontinental Hotels Group
InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.
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