InterContinental Hotels Group (NYSE:IHG) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Shares of InterContinental Hotels Group PLC (NYSE:IHG - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $111.09 and traded as high as $123.44. InterContinental Hotels Group shares last traded at $122.74, with a volume of 104,988 shares traded.

Wall Street Analyst Weigh In

IHG has been the subject of several recent analyst reports. Barclays upgraded InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a research note on Friday, November 15th. The Goldman Sachs Group upgraded InterContinental Hotels Group from a "neutral" rating to a "buy" rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, InterContinental Hotels Group currently has a consensus rating of "Hold".

InterContinental Hotels Group Trading Down 0.9 %

The company has a fifty day moving average of $123.31 and a 200-day moving average of $111.13. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.88 and a beta of 1.33.

Institutional Investors Weigh In On InterContinental Hotels Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new position in InterContinental Hotels Group during the second quarter worth approximately $36,000. Assetmark Inc. raised its holdings in shares of InterContinental Hotels Group by 130.9% during the 3rd quarter. Assetmark Inc. now owns 769 shares of the company's stock worth $85,000 after acquiring an additional 436 shares during the period. Transamerica Financial Advisors Inc. boosted its position in shares of InterContinental Hotels Group by 100,100.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company's stock valued at $111,000 after acquiring an additional 1,001 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of InterContinental Hotels Group by 40.7% in the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company's stock valued at $182,000 after purchasing an additional 422 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in InterContinental Hotels Group by 226.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,477 shares of the company's stock worth $156,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

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.