Wealthstar Advisors LLC Trims Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Wealthstar Advisors LLC reduced its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,457 shares of the company’s stock after selling 324 shares during the period. Wealthstar Advisors LLC’s holdings in InterContinental Hotels Group were worth $1,422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of InterContinental Hotels Group in the first quarter worth $48,000. GAMMA Investing LLC purchased a new stake in shares of InterContinental Hotels Group in the fourth quarter worth $74,000. Parallel Advisors LLC grew its stake in InterContinental Hotels Group by 15.8% during the fourth quarter. Parallel Advisors LLC now owns 828 shares of the company’s stock valued at $75,000 after acquiring an additional 113 shares in the last quarter. Blue Trust Inc. grew its stake in InterContinental Hotels Group by 15,850.0% during the fourth quarter. Blue Trust Inc. now owns 957 shares of the company’s stock valued at $87,000 after acquiring an additional 951 shares in the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in InterContinental Hotels Group during the fourth quarter valued at $119,000. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Price Performance

IHG stock traded up $1.03 during trading on Thursday, hitting $105.27. 68,182 shares of the company’s stock traded hands, compared to its average volume of 167,770. InterContinental Hotels Group PLC has a 52 week low of $67.09 and a 52 week high of $112.08. The business has a fifty day simple moving average of $101.89 and a 200 day simple moving average of $100.06.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Sanford C. Bernstein cut shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 13th. Jefferies Financial Group lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, 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.