Envestnet Asset Management Inc. Buys 8,099 Shares of Intercontinental Hotels Group $IHG

Envestnet Asset Management Inc. grew its position in Intercontinental Hotels Group (NYSE:IHGFree Report) by 10.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 86,140 shares of the company’s stock after acquiring an additional 8,099 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Intercontinental Hotels Group worth $10,445,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Intercontinental Hotels Group by 125.7% in the second quarter. JPMorgan Chase & Co. now owns 451,823 shares of the company’s stock valued at $52,113,000 after purchasing an additional 251,647 shares during the period. Bank of Montreal Can acquired a new stake in shares of Intercontinental Hotels Group in the second quarter valued at about $306,000. Zions Bancorporation National Association UT raised its position in shares of Intercontinental Hotels Group by 101.7% during the second quarter. Zions Bancorporation National Association UT now owns 7,827 shares of the company’s stock worth $903,000 after acquiring an additional 3,947 shares during the last quarter. Aviso Financial Inc. raised its position in shares of Intercontinental Hotels Group by 100.2% during the second quarter. Aviso Financial Inc. now owns 1,197 shares of the company’s stock worth $138,000 after acquiring an additional 599 shares during the last quarter. Finally, Walter Public Investments Inc. bought a new stake in Intercontinental Hotels Group in the third quarter valued at approximately $1,629,000. Institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Stock Down 1.9%

Shares of NYSE IHG opened at $145.34 on Thursday. Intercontinental Hotels Group has a fifty-two week low of $94.78 and a fifty-two week high of $150.89. The firm’s 50-day simple moving average is $140.66 and its 200 day simple moving average is $129.92.

Analyst Ratings Changes

IHG has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Intercontinental Hotels Group from a “hold” rating to a “buy” rating in a report on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Hotels Group in a report on Thursday, January 22nd. Berenberg Bank raised shares of Intercontinental Hotels Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 20th. Finally, Wall Street Zen lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Intercontinental Hotels Group currently has a consensus rating of “Moderate Buy”.

Check Out Our Latest Analysis on Intercontinental Hotels Group

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Intercontinental Hotels Group Profile

(Free Report)

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG’s business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG’s brand portfolio spans global and regional names designed to serve different traveler needs and market segments.

Further Reading

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Institutional Ownership by Quarter for Intercontinental Hotels Group (NYSE:IHG)

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