Intercontinental Hotels Group $IHG Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its holdings in shares of Intercontinental Hotels Group (NYSE:IHG) by 20.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 143,030 shares of the company’s stock after selling 36,905 shares during the period. BNP Paribas Financial Markets’ holdings in Intercontinental Hotels Group were worth $20,143,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IHG. CCLA Investment Management acquired a new stake in shares of Intercontinental Hotels Group during the fourth quarter worth $114,306,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Intercontinental Hotels Group during the third quarter worth $42,374,000. Lazard Asset Management LLC boosted its holdings in shares of Intercontinental Hotels Group by 98.4% during the second quarter. Lazard Asset Management LLC now owns 355,863 shares of the company’s stock worth $41,044,000 after purchasing an additional 176,502 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Intercontinental Hotels Group by 63.1% during the third quarter. Marshall Wace LLP now owns 281,557 shares of the company’s stock worth $34,142,000 after purchasing an additional 108,935 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Intercontinental Hotels Group by 79.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 240,639 shares of the company’s stock worth $29,180,000 after purchasing an additional 106,806 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Up 1.1%

Shares of IHG opened at $162.20 on Friday. The stock’s fifty day simple moving average is $146.07 and its 200 day simple moving average is $140.49. Intercontinental Hotels Group has a twelve month low of $109.79 and a twelve month high of $163.71.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IHG. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Tuesday, May 26th. Sanford C. Bernstein raised their price objective on Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a “market perform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.00.

About Intercontinental Hotels Group

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.