InterContinental Hotels Group (NYSE:IHG) Sees Strong Trading Volume – Here’s Why

InterContinental Hotels Group PLC (NYSE:IHG) shares saw an uptick in trading volume on Thursday . 300,068 shares traded hands during trading, an increase of 99% from the previous session’s volume of 150,571 shares.The stock last traded at $127.47 and had previously closed at $129.54.

Wall Street Analyst Weigh In

Several brokerages recently commented on IHG. Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

The firm’s 50-day moving average price is $128.73 and its 200-day moving average price is $117.22. The company has a market cap of $19.71 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32.

Institutional Investors Weigh In On InterContinental Hotels Group

Several large investors have recently made changes to their positions in IHG. Richardson Financial Services Inc. acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter worth $25,000. Farther Finance Advisors LLC increased its position in shares of InterContinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock worth $31,000 after acquiring an additional 101 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter worth $42,000. Venturi Wealth Management LLC acquired a new stake in shares of InterContinental Hotels Group in the fourth quarter worth $72,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of InterContinental Hotels Group by 419.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after purchasing an additional 461 shares during the period. Institutional investors and hedge funds own 15.09% of the company’s stock.

InterContinental Hotels Group Company 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.