Burkett Asset Management Ltd Buys Shares of 18,112 Intercontinental Hotels Group $IHG

Burkett Asset Management Ltd bought a new stake in Intercontinental Hotels Group (NYSE:IHG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 18,112 shares of the company’s stock, valued at approximately $2,551,000. Intercontinental Hotels Group makes up approximately 2.6% of Burkett Asset Management Ltd’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT grew its position in Intercontinental Hotels Group by 2.1% in the 4th quarter. Zions Bancorporation National Association UT now owns 12,532 shares of the company’s stock valued at $1,765,000 after acquiring an additional 258 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Intercontinental Hotels Group during the fourth quarter worth about $60,000. Cerity Partners LLC grew its position in shares of Intercontinental Hotels Group by 5.8% during the fourth quarter. Cerity Partners LLC now owns 11,854 shares of the company’s stock worth $1,669,000 after buying an additional 655 shares in the last quarter. LPL Financial LLC grew its position in shares of Intercontinental Hotels Group by 13.7% during the fourth quarter. LPL Financial LLC now owns 19,758 shares of the company’s stock worth $2,783,000 after buying an additional 2,375 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Intercontinental Hotels Group by 5.2% during the fourth quarter. Franklin Resources Inc. now owns 3,156 shares of the company’s stock worth $444,000 after buying an additional 155 shares in the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group Stock Performance

IHG stock opened at $164.72 on Friday. The business has a 50 day moving average price of $148.60 and a 200 day moving average price of $141.61. Intercontinental Hotels Group has a fifty-two week low of $109.79 and a fifty-two week high of $165.63.

Analyst Upgrades and Downgrades

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