QRG Capital Management Inc. Reduces Holdings in InterContinental Hotels Group PLC (NYSE:IHG)

QRG Capital Management Inc. decreased its position in shares of InterContinental Hotels Group PLC (NYSE:IHG - Free Report) by 22.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,410 shares of the company's stock after selling 6,250 shares during the period. QRG Capital Management Inc.'s holdings in InterContinental Hotels Group were worth $2,675,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of InterContinental Hotels Group by 29.7% during 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 during the period. Entropy Technologies LP acquired a new position in InterContinental Hotels Group in the fourth quarter valued at $262,000. World Investment Advisors LLC purchased a new position in InterContinental Hotels Group during the third quarter worth about $86,000. Jane Street Group LLC lifted its position in InterContinental Hotels Group by 120.2% during the third quarter. Jane Street Group LLC now owns 4,269 shares of the company's stock worth $472,000 after buying an additional 2,330 shares during the period. Finally, Stifel Financial Corp boosted its stake in InterContinental Hotels Group by 6.7% in the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company's stock worth $1,943,000 after buying an additional 1,107 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

InterContinental Hotels Group Stock Performance

Shares of NYSE:IHG traded up $0.54 during trading on Wednesday, reaching $126.32. 268,504 shares of the stock were exchanged, compared to its average volume of 167,274. The firm's 50-day moving average price is $128.66 and its 200 day moving average price is $119.15. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. InterContinental Hotels Group PLC has a 12-month low of $91.57 and a 12-month high of $137.25.

Remove Ads

Analysts Set New Price Targets

IHG has been the subject of a number of research analyst reports. Barclays raised shares of InterContinental Hotels Group from an "equal weight" rating to an "overweight" rating in a research note on Friday, November 15th. 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. Citigroup initiated coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They issued a "sell" rating on the stock. Finally, Morgan Stanley downgraded InterContinental Hotels Group from an "equal weight" rating to an "underweight" rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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.