King Luther Capital Management Corp Sells 566 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

King Luther Capital Management Corp lessened its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 23.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,883 shares of the company’s stock after selling 566 shares during the quarter. King Luther Capital Management Corp’s holdings in InterContinental Hotels Group were worth $235,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after purchasing an additional 351,723 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of InterContinental Hotels Group by 29.7% in the third quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock worth $35,388,000 after buying an additional 73,361 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of InterContinental Hotels Group during the 4th quarter worth $13,796,000. ABC Arbitrage SA bought a new stake in shares of InterContinental Hotels Group during the 4th quarter worth $11,846,000. Finally, World Investment Advisors LLC acquired a new position in InterContinental Hotels Group in the 3rd quarter valued at $86,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in 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. Citigroup started coverage on InterContinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating for the company. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

InterContinental Hotels Group Price Performance

Shares of InterContinental Hotels Group stock opened at $111.45 on Friday. The company has a market cap of $17.63 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. The firm has a fifty day moving average price of $127.85 and a two-hundred day moving average price of $119.84. InterContinental Hotels Group PLC has a fifty-two week low of $91.57 and a fifty-two week high of $137.25.

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.