Citigroup Begins Coverage on InterContinental Hotels Group (NYSE:IHG)

Citigroup began coverage on shares of InterContinental Hotels Group (NYSE:IHG) in a report published on Monday morning, MarketBeat.com reports. The brokerage issued a sell rating on the stock.

A number of other research firms also recently weighed in on IHG. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley cut shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

InterContinental Hotels Group Price Performance

InterContinental Hotels Group stock opened at $125.29 on Monday. The business has a 50 day moving average of $128.62 and a 200-day moving average of $118.04. InterContinental Hotels Group has a 1 year low of $91.57 and a 1 year high of $137.25. The company has a market capitalization of $19.85 billion, a P/E ratio of 22.21, a P/E/G ratio of 1.69 and a beta of 1.32.

Hedge Funds Weigh In On InterContinental Hotels Group

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after purchasing an additional 73,361 shares during the last quarter. Entropy Technologies LP purchased a new stake in InterContinental Hotels Group in the 4th quarter valued at $262,000. World Investment Advisors LLC purchased a new stake in InterContinental Hotels Group in the 3rd quarter valued at $86,000. Jane Street Group LLC lifted its stake in InterContinental Hotels Group by 120.2% during the 3rd quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock valued at $472,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in InterContinental Hotels Group by 6.7% during the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock worth $1,943,000 after acquiring an additional 1,107 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Company 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 under the Six Senses, Regent, InterContinental Hotels & Resorts, Vignette Collection, Kimpton Hotels & Restaurants, Hotel Indigo, voco, HUALUXE, Crowne Plaza, Iberostar Beachfront Resorts, EVEN, Holiday Inn Express, Holiday Inn, Garner, avid hotels, Atwell Suites, Staybridge Suites, Iberostar Beachfront Resorts, Holiday Inn Club Vacations, and Candlewood Suites brand names.