InterContinental Hotels Group PLC (NYSE:IHG) Stock Position Lowered by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 23.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,883 shares of the company’s stock after selling 566 shares during the period. King Luther Capital Management Corp’s holdings in InterContinental Hotels Group were worth $235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of InterContinental Hotels Group by 29.7% in the 3rd 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 in the last quarter. Entropy Technologies LP acquired a new stake in shares of InterContinental Hotels Group during the 4th quarter valued at $262,000. World Investment Advisors LLC bought a new stake in shares of InterContinental Hotels Group during the 3rd quarter worth $86,000. Jane Street Group LLC grew its holdings in shares of InterContinental Hotels Group by 120.2% in the 3rd quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock worth $472,000 after acquiring an additional 2,330 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of InterContinental Hotels Group by 6.7% during the third quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock worth $1,943,000 after purchasing an additional 1,107 shares during the period. 15.09% of the stock is currently owned by institutional investors.

InterContinental Hotels Group Price Performance

IHG opened at $111.45 on Friday. The company has a market capitalization 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. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25. The business has a 50-day moving average of $127.85 and a 200-day moving average of $119.84.

Wall Street Analyst Weigh In

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