ABC Arbitrage SA Grows Stock Position in Intercontinental Hotels Group $IHG

ABC Arbitrage SA boosted its position in Intercontinental Hotels Group (NYSE:IHG) by 26.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,377 shares of the company’s stock after acquiring an additional 27,450 shares during the quarter. Intercontinental Hotels Group accounts for 1.6% of ABC Arbitrage SA’s investment portfolio, making the stock its 22nd biggest position. ABC Arbitrage SA owned 0.09% of Intercontinental Hotels Group worth $15,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Jones Financial Companies Lllp lifted its position in Intercontinental Hotels Group by 228.2% during the 1st quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock worth $531,000 after acquiring an additional 3,368 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Intercontinental Hotels Group by 2.5% during the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock worth $73,310,000 after purchasing an additional 16,461 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Intercontinental Hotels Group by 43.1% in the second quarter. Janney Montgomery Scott LLC now owns 3,600 shares of the company’s stock valued at $415,000 after purchasing an additional 1,084 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Intercontinental Hotels Group by 12.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,533 shares of the company’s stock valued at $1,346,000 after purchasing an additional 1,281 shares during the period. Finally, Atria Wealth Solutions Inc. grew its stake in shares of Intercontinental Hotels Group by 50.2% during the second quarter. Atria Wealth Solutions Inc. now owns 5,215 shares of the company’s stock valued at $601,000 after acquiring an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Intercontinental Hotels Group Trading Up 3.3%

Intercontinental Hotels Group stock opened at $148.01 on Wednesday. Intercontinental Hotels Group has a 12-month low of $94.78 and a 12-month high of $148.89. The firm has a 50 day simple moving average of $139.19 and a 200-day simple moving average of $128.76.

Wall Street Analyst Weigh In

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

Intercontinental Hotels Group Company Profile

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.