InterContinental Hotels Group (NYSE:IHG) Shares Gap Down – Here’s Why

InterContinental Hotels Group PLC (NYSE:IHG)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $118.36, but opened at $115.55. InterContinental Hotels Group shares last traded at $114.66, with a volume of 100,130 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IHG shares. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Citigroup began coverage on InterContinental Hotels Group in a research note on Monday, February 24th. They issued a “sell” rating on the stock. Finally, Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, InterContinental Hotels Group has a consensus rating of “Hold”.

InterContinental Hotels Group Trading Down 2.1 %

The stock has a fifty day simple moving average of $127.85 and a two-hundred day simple moving average of $119.84. The firm has a market cap of $17.63 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

Institutional Trading of InterContinental Hotels Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Independent Advisor Alliance raised its holdings in shares of InterContinental Hotels Group by 0.8% in the 4th quarter. Independent Advisor Alliance now owns 9,674 shares of the company’s stock valued at $1,209,000 after acquiring an additional 76 shares in the last quarter. Denali Advisors LLC increased its position in shares of InterContinental Hotels Group by 2.3% in the fourth quarter. Denali Advisors LLC now owns 3,870 shares of the company’s stock worth $483,000 after purchasing an additional 87 shares during the last quarter. Farther Finance Advisors LLC raised its stake in InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. Moors & Cabot Inc. lifted its position in InterContinental Hotels Group by 3.2% during the fourth quarter. Moors & Cabot Inc. now owns 4,415 shares of the company’s stock valued at $552,000 after purchasing an additional 136 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in InterContinental Hotels Group by 7.1% in the 4th quarter. Ballentine Partners LLC now owns 2,344 shares of the company’s stock worth $293,000 after buying an additional 156 shares in the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

About InterContinental Hotels Group

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.