InterContinental Hotels Group PLC (IHG) Sees Large Volume Increase
InterContinental Hotels Group PLC (NYSE:IHG) saw an uptick in trading volume on Monday . 212,409 shares traded hands during mid-day trading, an increase of 24% from the previous session’s volume of 170,801 shares.The stock last traded at $42.78 and had previously closed at $42.04.
Several research firms have recently issued reports on IHG. Zacks Investment Research upgraded shares of InterContinental Hotels Group PLC from a “strong sell” rating to a “hold” rating in a report on Thursday. Citigroup Inc. restated a “neutral” rating on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Beaufort Securities restated a “buy” rating on shares of InterContinental Hotels Group PLC in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. lowered shares of InterContinental Hotels Group PLC from a “buy” rating to a “neutral” rating in a report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. lowered shares of InterContinental Hotels Group PLC from a “neutral” rating to an “underweight” rating in a report on Thursday, April 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. InterContinental Hotels Group PLC currently has an average rating of “Hold” and a consensus target price of GBX 1,225 ($16.18).
The firm’s 50 day moving average price is $39.11 and its 200 day moving average price is $42.43. The company has a market capitalization of $9.78 billion and a P/E ratio of 8.71.
A hedge fund recently raised its stake in InterContinental Hotels Group PLC stock. Dimensional Fund Advisors LP boosted its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,802 shares of the company’s stock after buying an additional 910 shares during the period. Dimensional Fund Advisors LP owned about 0.07% of InterContinental Hotels Group PLC worth $6,656,000 at the end of the most recent quarter.
InterContinental Hotels Group PLC is a hotel company. The Company operates hotels in three ways: as a franchisor, as a manager, and on an owned and leased basis. The Company’s segments include Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. The Company operates a portfolio of hotel brands, including InterContinental, HUALUXE Hotels and Resorts, Kimpton Hotels and Restaurants, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites and Candlewood Suites.
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