ABC Arbitrage SA Invests $11.85 Million in InterContinental Hotels Group PLC (NYSE:IHG)

ABC Arbitrage SA purchased a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 94,825 shares of the company's stock, valued at approximately $11,846,000. InterContinental Hotels Group makes up approximately 1.7% of ABC Arbitrage SA's portfolio, making the stock its 14th biggest position. ABC Arbitrage SA owned 0.06% of InterContinental Hotels Group at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of InterContinental Hotels Group during the 2nd quarter worth about $229,000. Aaron Wealth Advisors LLC purchased a new position in shares of InterContinental Hotels Group during the third quarter valued at approximately $214,000. Net Worth Advisory Group acquired a new stake in InterContinental Hotels Group during the third quarter worth approximately $241,000. Blue Trust Inc. grew its stake in InterContinental Hotels Group by 61.1% in the 3rd quarter. Blue Trust Inc. now owns 3,708 shares of the company's stock worth $393,000 after acquiring an additional 1,407 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in InterContinental Hotels Group by 22.3% in the 3rd 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 last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Trading Down 0.6 %

IHG stock traded down $0.85 during midday trading on Wednesday, reaching $129.51. 212,801 shares of the company's stock traded hands, compared to its average volume of 148,809. 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 price of $128.77 and a two-hundred day moving average price of $116.94.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IHG. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research report on Friday, January 10th. Morgan Stanley downgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a research note on Wednesday, January 8th. Finally, Barclays raised shares of InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a research note on Friday, November 15th. One 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, InterContinental Hotels Group 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.