Lake Street Advisors Group LLC Sells 222 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Lake Street Advisors Group LLC reduced its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,131 shares of the company’s stock after selling 222 shares during the quarter. Lake Street Advisors Group LLC’s holdings in InterContinental Hotels Group were worth $391,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IHG. Allspring Global Investments Holdings LLC increased its stake in InterContinental Hotels Group by 22.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,807 shares of the company’s stock valued at $200,000 after acquiring an additional 330 shares during the period. QRG Capital Management Inc. grew its holdings in shares of InterContinental Hotels Group by 0.6% during the 3rd quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock worth $3,056,000 after purchasing an additional 152 shares in the last quarter. Assetmark Inc. increased its position in shares of InterContinental Hotels Group by 130.9% during the third quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after purchasing an additional 436 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of InterContinental Hotels Group by 86.6% in the third quarter. Crossmark Global Holdings Inc. now owns 32,392 shares of the company’s stock valued at $3,579,000 after purchasing an additional 15,031 shares in the last quarter. Finally, MQS Management LLC bought a new position in InterContinental Hotels Group in the third quarter worth $399,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Trading Up 1.2 %

Shares of NYSE IHG opened at $126.84 on Friday. InterContinental Hotels Group PLC has a 1-year low of $91.57 and a 1-year high of $137.25. The company has a 50-day moving average of $128.66 and a two-hundred day moving average of $118.11. The company has a market cap of $20.10 billion, a PE ratio of 22.49, a P/E/G ratio of 1.69 and a beta of 1.32.

Analyst Upgrades and Downgrades

IHG has been the subject of a number of recent research reports. Morgan Stanley cut shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 8th. Citigroup assumed coverage on shares of InterContinental Hotels Group in a research note on Monday. They set a “sell” rating for the company. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, InterContinental Hotels Group currently has a consensus rating of “Hold”.

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 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.