InterContinental Hotels Group (NYSE:IHG) Shares Gap Down - Here's What Happened

Shares of InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IHG. Morgan Stanley cut InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 8th. Barclays raised InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a research note on Friday, November 15th. Sanford C. Bernstein raised InterContinental Hotels Group from an "underperform" rating to a "market perform" rating in a research note on Friday, January 10th. Finally, Citigroup started coverage on InterContinental Hotels Group in a research note on Monday, February 24th. They issued a "sell" rating for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold".

InterContinental Hotels Group Price Performance

The business has a 50 day moving average of $127.42 and a 200 day moving average of $119.88. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, April 4th will be paid a dividend of $1.144 per share. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from InterContinental Hotels Group's previous semi-annual dividend of $0.53. This represents a dividend yield of 1.4%. InterContinental Hotels Group's payout ratio is 18.79%.

Institutional Investors Weigh In On InterContinental Hotels Group

A number of institutional investors have recently made changes to their positions in the stock. Independent Advisor Alliance grew its stake in shares of InterContinental Hotels Group by 0.8% during the fourth quarter. Independent Advisor Alliance now owns 9,674 shares of the company's stock worth $1,209,000 after purchasing an additional 76 shares during the period. Denali Advisors LLC lifted its holdings in InterContinental Hotels Group by 2.3% during the fourth quarter. Denali Advisors LLC now owns 3,870 shares of the company's stock worth $483,000 after acquiring an additional 87 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock worth $31,000 after acquiring an additional 101 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in InterContinental Hotels Group by 3.2% during the fourth quarter. Moors & Cabot Inc. now owns 4,415 shares of the company's stock worth $552,000 after acquiring an additional 136 shares in the last quarter. Finally, Ballentine Partners LLC lifted its holdings in InterContinental Hotels Group by 7.1% during the fourth quarter. Ballentine Partners LLC now owns 2,344 shares of the company's stock worth $293,000 after acquiring an additional 156 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

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.