Janney Montgomery Scott LLC Invests $276,000 in Intercontinental Hotels Group (NYSE:IHG)

Janney Montgomery Scott LLC purchased a new stake in Intercontinental Hotels Group (NYSE:IHG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,516 shares of the company’s stock, valued at approximately $276,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position 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 worth $31,000 after acquiring an additional 101 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Intercontinental Hotels Group during the fourth quarter valued at approximately $42,000. Smartleaf Asset Management LLC grew 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 worth $72,000 after acquiring an additional 461 shares during the last quarter. Versant Capital Management Inc lifted its position in Intercontinental Hotels Group by 722.4% in the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company’s stock worth $141,000 after purchasing an additional 1,127 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Intercontinental Hotels Group by 67.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company’s stock valued at $176,000 after acquiring an additional 570 shares during the period. 15.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft upgraded 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Intercontinental Hotels Group Trading Up 1.4%

Shares of IHG stock opened at $119.66 on Friday. Intercontinental Hotels Group has a 12 month low of $91.57 and a 12 month high of $137.25. The firm has a market capitalization of $18.54 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 1.67 and a beta of 1.33. The business’s 50-day moving average price is $115.93 and its 200-day moving average price is $118.49.

About Intercontinental Hotels Group

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.