ABC Arbitrage SA Acquires New Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

ABC Arbitrage SA purchased a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,825 shares of the company’s stock, valued at approximately $11,846,000. InterContinental Hotels Group makes up 1.7% of ABC Arbitrage SA’s holdings, making the stock its 14th largest holding. ABC Arbitrage SA owned about 0.06% of InterContinental Hotels Group as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of InterContinental Hotels Group by 10.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,996 shares of the company’s stock valued at $245,000 after purchasing an additional 189 shares during the last quarter. Wealthstar Advisors LLC bought a new position in InterContinental Hotels Group in the 4th quarter valued at $497,000. Entropy Technologies LP purchased a new stake in shares of InterContinental Hotels Group during the 4th quarter valued at $262,000. Yorktown Management & Research Co Inc bought a new stake in shares of InterContinental Hotels Group during the 4th quarter worth $468,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of InterContinental Hotels Group in the 4th quarter worth about $25,000. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Stock Performance

IHG stock opened at $133.40 on Friday. The company’s 50 day moving average is $128.55 and its 200 day moving average is $116.16. InterContinental Hotels Group PLC has a 1-year low of $91.57 and a 1-year high of $137.25.

Wall Street Analyst Weigh In

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

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.