Intercontinental Hotels Group (NYSE:IHG) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Intercontinental Hotels Group (NYSE:IHG)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $147.32 and traded as high as $157.35. Intercontinental Hotels Group shares last traded at $156.1350, with a volume of 190,513 shares trading hands.

Wall Street Analysts Forecast Growth

IHG has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. Sanford C. Bernstein upped their target price on Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a “market perform” rating in a research report on Friday, May 15th. Finally, Jefferies Financial Group raised their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.50.

Intercontinental Hotels Group Price Performance

The company’s fifty day moving average is $162.27 and its two-hundred day moving average is $147.32.

Institutional Trading of Intercontinental Hotels Group

A number of hedge funds and other institutional investors have recently made changes to their positions in IHG. Jones Financial Companies Lllp lifted its position in Intercontinental Hotels Group by 228.2% during the first quarter. Jones Financial Companies Lllp now owns 4,844 shares of the company’s stock valued at $531,000 after purchasing an additional 3,368 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Intercontinental Hotels Group by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 668,948 shares of the company’s stock valued at $73,310,000 after purchasing an additional 16,461 shares during the last quarter. Russell Investments Group Ltd. grew its position in Intercontinental Hotels Group by 44.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,518 shares of the company’s stock worth $290,000 after purchasing an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Intercontinental Hotels Group by 42.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the company’s stock worth $50,000 after purchasing an additional 129 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Intercontinental Hotels Group by 56.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 933 shares of the company’s stock valued at $108,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.