Freedom Investment Management Inc. Reduces Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

Freedom Investment Management Inc. reduced its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 55.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,344 shares of the company's stock after selling 5,455 shares during the quarter. Freedom Investment Management Inc.'s holdings in InterContinental Hotels Group were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in InterContinental Hotels Group by 133.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,433 shares of the company's stock valued at $1,212,000 after purchasing an additional 6,533 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of InterContinental Hotels Group by 65.2% during the first quarter. EverSource Wealth Advisors LLC now owns 484 shares of the company's stock valued at $48,000 after buying an additional 191 shares during the last quarter. QRG Capital Management Inc. grew its holdings in InterContinental Hotels Group by 30.2% during the second quarter. QRG Capital Management Inc. now owns 27,508 shares of the company's stock worth $2,915,000 after buying an additional 6,373 shares in the last quarter. Capital Wealth Planning LLC raised its position in InterContinental Hotels Group by 125.2% in the 2nd quarter. Capital Wealth Planning LLC now owns 24,257 shares of the company's stock valued at $2,570,000 after buying an additional 13,487 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in InterContinental Hotels Group during the 3rd quarter valued at $1,699,000. 15.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on IHG. Barclays upgraded shares of InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a report on Friday, November 15th. The Goldman Sachs Group upgraded shares of InterContinental Hotels Group from a "neutral" rating to a "buy" rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, InterContinental Hotels Group currently has an average rating of "Hold".

InterContinental Hotels Group Price Performance

Shares of InterContinental Hotels Group stock traded up $0.24 during trading hours on Friday, hitting $126.25. 82,698 shares of the company's stock traded hands, compared to its average volume of 172,058. The company has a fifty day simple moving average of $115.75 and a 200-day simple moving average of $106.70. The stock has a market capitalization of $20.04 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 1.86 and a beta of 1.31. InterContinental Hotels Group PLC has a 12-month low of $77.84 and a 12-month high of $126.94.

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.