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

InterContinental Hotels Group PLC (NYSE:IHG) saw an uptick in trading volume on Thursday . 300,068 shares were traded 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.

Analyst Ratings Changes

A number of research firms recently commented on IHG. Morgan Stanley downgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Down 3.3 %

The company has a market cap of $19.71 billion, a PE ratio of 22.06, a P/E/G ratio of 1.69 and a beta of 1.32. The firm’s fifty day simple moving average is $128.73 and its 200-day simple moving average is $117.22.

Institutional Trading of InterContinental Hotels Group

Institutional investors and hedge funds have recently modified their holdings of the business. Richardson Financial Services Inc. purchased a new stake in shares of InterContinental Hotels Group in the fourth quarter valued at about $25,000. Farther Finance Advisors LLC lifted its stake in shares of InterContinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after buying an additional 101 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of InterContinental Hotels Group during the fourth quarter valued at approximately $42,000. Smartleaf Asset Management LLC lifted its stake in shares of InterContinental Hotels Group by 419.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company’s stock valued at $72,000 after buying an additional 461 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in shares of InterContinental Hotels Group during the fourth quarter valued at approximately $72,000. Hedge funds and other institutional investors 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.