GAMMA Investing LLC Lowers Stake in Intercontinental Hotels Group $IHG

GAMMA Investing LLC lessened its holdings in Intercontinental Hotels Group (NYSE:IHG) by 7.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,244 shares of the company’s stock after selling 95 shares during the period. GAMMA Investing LLC’s holdings in Intercontinental Hotels Group were worth $143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IHG. Ameriprise Financial Inc. lifted its position in shares of Intercontinental Hotels Group by 5.3% during the 4th quarter. Ameriprise Financial Inc. now owns 7,662 shares of the company’s stock worth $957,000 after purchasing an additional 387 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Intercontinental Hotels Group by 722.4% during the 1st 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 last quarter. SG Americas Securities LLC lifted its position in shares of Intercontinental Hotels Group by 22.2% during the 1st quarter. SG Americas Securities LLC now owns 20,685 shares of the company’s stock worth $2,267,000 after purchasing an additional 3,758 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Intercontinental Hotels Group during the 1st quarter worth $276,000. Finally, Blue Trust Inc. lifted its position in shares of Intercontinental Hotels Group by 32.4% during the 1st quarter. Blue Trust Inc. now owns 3,763 shares of the company’s stock worth $412,000 after purchasing an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Performance

NYSE IHG opened at $122.79 on Tuesday. The firm has a market cap of $18.78 billion, a PE ratio of 21.77, a P/E/G ratio of 1.74 and a beta of 1.27. Intercontinental Hotels Group has a one year low of $94.78 and a one year high of $137.25. The firm’s fifty day moving average is $120.12 and its two-hundred day moving average is $115.37.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.566 per share. This represents a dividend yield of 140.0%. The ex-dividend date is Friday, August 22nd. Intercontinental Hotels Group’s payout ratio is 20.04%.

Analyst Ratings Changes

Several brokerages recently commented on IHG. JPMorgan Chase & Co. upgraded shares of Intercontinental Hotels Group from a “neutral” rating to an “overweight” rating in a research note on Friday. Wall Street Zen upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.