Penserra Capital Management LLC Lowers Stock Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Penserra Capital Management LLC lessened its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 75.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,542 shares of the company’s stock after selling 26,345 shares during the quarter. Penserra Capital Management LLC’s holdings in InterContinental Hotels Group were worth $943,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its holdings in InterContinental Hotels Group by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after purchasing an additional 106 shares during the period. Rothschild Investment LLC acquired a new position in InterContinental Hotels Group during the 2nd quarter worth approximately $36,000. EverSource Wealth Advisors LLC increased its position in shares of InterContinental Hotels Group by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company’s stock valued at $48,000 after purchasing an additional 191 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of InterContinental Hotels Group in the 2nd quarter valued at $50,000. Finally, Assetmark Inc. lifted its position in shares of InterContinental Hotels Group by 130.9% during the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock worth $85,000 after purchasing an additional 436 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

InterContinental Hotels Group Price Performance

Shares of IHG opened at $126.01 on Thursday. The firm has a fifty day moving average price of $114.64 and a 200 day moving average price of $106.24. InterContinental Hotels Group PLC has a 1-year low of $77.84 and a 1-year high of $126.94.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IHG. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.