Rhumbline Advisers Lowers Stock Position in Intercontinental Hotels Group (NYSE:IHG)

Rhumbline Advisers lessened its holdings in Intercontinental Hotels Group (NYSE:IHG) by 3.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,655 shares of the company’s stock after selling 225 shares during the period. Rhumbline Advisers’ holdings in Intercontinental Hotels Group were worth $620,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Intercontinental Hotels Group by 9,964.5% in the 1st quarter. GAMMA Investing LLC now owns 146,741 shares of the company’s stock worth $160,810,000 after purchasing an additional 145,283 shares during the period. Versant Capital Management Inc lifted its position in Intercontinental Hotels Group by 722.4% during the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company’s stock valued at $141,000 after acquiring an additional 1,127 shares during the last quarter. Vident Advisory LLC lifted its position in Intercontinental Hotels Group by 4.5% during the fourth quarter. Vident Advisory LLC now owns 4,502 shares of the company’s stock valued at $563,000 after acquiring an additional 192 shares during the last quarter. Quantinno Capital Management LP lifted its position in Intercontinental Hotels Group by 13.6% during the fourth quarter. Quantinno Capital Management LP now owns 34,409 shares of the company’s stock valued at $4,298,000 after acquiring an additional 4,132 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in Intercontinental Hotels Group by 1.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company’s stock valued at $46,613,000 after acquiring an additional 6,709 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on IHG. Citigroup began coverage on shares of Intercontinental Hotels Group in a research report on Monday, February 24th. They set a “sell” rating for the company. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Hotels Group currently has a consensus rating of “Hold”.

Intercontinental Hotels Group Trading Down 1.3%

NYSE IHG opened at $110.63 on Friday. The company has a fifty day simple moving average of $113.29 and a two-hundred day simple moving average of $119.29. The stock has a market cap of $17.19 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.53 and a beta of 1.34. Intercontinental Hotels Group has a 12-month low of $91.57 and a 12-month high of $137.25.

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.