M&T Bank Corp Makes New Investment in Intercontinental Hotels Group (NYSE:IHG)

M&T Bank Corp acquired a new stake in Intercontinental Hotels Group (NYSE:IHG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,394 shares of the company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IHG. Golden State Wealth Management LLC raised its holdings in Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company’s stock valued at $25,000 after acquiring an additional 114 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Intercontinental Hotels Group by 67.3% in the 4th quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of Intercontinental Hotels Group by 48.7% in the 1st quarter. TD Private Client Wealth LLC now owns 348 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares during the period. Versant Capital Management Inc increased its holdings in shares of Intercontinental Hotels Group by 722.4% in the 1st 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 period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Intercontinental Hotels Group by 67.9% in the 4th 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. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Down 0.0%

Intercontinental Hotels Group stock opened at $117.76 on Thursday. Intercontinental Hotels Group has a 52 week low of $91.57 and a 52 week high of $137.25. The firm’s 50-day simple moving average is $117.29 and its 200 day simple moving average is $118.18. The firm has a market capitalization of $18.21 billion, a PE ratio of 20.88, a P/E/G ratio of 1.68 and a beta of 1.33.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold”.

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.