Virtu Financial LLC Takes $470,000 Position in InterContinental Hotels Group PLC (NYSE:IHG)

Virtu Financial LLC purchased a new position in shares of InterContinental Hotels Group PLC (NYSE:IHG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,254 shares of the company’s stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IHG. FMR LLC boosted its stake in shares of InterContinental Hotels Group by 5.8% during the 3rd quarter. FMR LLC now owns 6,387,525 shares of the company’s stock valued at $705,758,000 after buying an additional 351,723 shares during the period. Natixis Advisors LLC raised its holdings in shares of InterContinental Hotels Group by 2.8% during the second quarter. Natixis Advisors LLC now owns 736,042 shares of the company’s stock worth $77,984,000 after acquiring an additional 20,280 shares in the last quarter. Raymond James & Associates boosted its position in InterContinental Hotels Group by 1.2% during the second quarter. Raymond James & Associates now owns 123,232 shares of the company’s stock valued at $13,056,000 after purchasing an additional 1,475 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in InterContinental Hotels Group by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 58,321 shares of the company’s stock valued at $6,179,000 after purchasing an additional 3,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in InterContinental Hotels Group by 8.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 50,094 shares of the company’s stock worth $5,307,000 after purchasing an additional 4,087 shares during the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

InterContinental Hotels Group Price Performance

Shares of IHG stock opened at $127.11 on Monday. The firm has a market cap of $20.15 billion, a P/E ratio of 25.32, a PEG ratio of 1.88 and a beta of 1.33. The stock’s 50-day moving average is $119.27 and its two-hundred day moving average is $108.75. InterContinental Hotels Group PLC has a fifty-two week low of $89.02 and a fifty-two week high of $131.68.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IHG. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, InterContinental Hotels Group presently has a consensus rating of “Hold”.

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.