InterContinental Hotels Group (NYSE:IHG) Sees Unusually-High Trading Volume – Here’s What Happened

InterContinental Hotels Group PLC (NYSE:IHG) shares saw unusually-high trading volume on Wednesday . Approximately 533,550 shares changed hands during mid-day trading, an increase of 209% from the previous session’s volume of 172,812 shares.The stock last traded at $125.29 and had previously closed at $124.38.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IHG shares. Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Citigroup initiated coverage on InterContinental Hotels Group in a research report on Monday. They set a “sell” rating for the company. Finally, Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

The company’s 50-day simple moving average is $128.61 and its 200 day simple moving average is $117.99. The company has a market cap of $19.85 billion, a PE ratio of 22.21, a PEG ratio of 1.69 and a beta of 1.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Independent Advisor Alliance raised its holdings in InterContinental Hotels Group by 0.8% during the fourth quarter. Independent Advisor Alliance now owns 9,674 shares of the company’s stock worth $1,209,000 after purchasing an additional 76 shares in the last quarter. Denali Advisors LLC increased its holdings in shares of InterContinental Hotels Group by 2.3% in the 4th quarter. Denali Advisors LLC now owns 3,870 shares of the company’s stock valued at $483,000 after purchasing an additional 87 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of InterContinental Hotels Group by 67.3% during the 4th quarter. Farther Finance Advisors LLC now owns 251 shares of the company’s stock worth $31,000 after buying an additional 101 shares during the last quarter. Moors & Cabot Inc. increased its position in InterContinental Hotels Group by 3.2% during the 4th quarter. Moors & Cabot Inc. now owns 4,415 shares of the company’s stock worth $552,000 after purchasing an additional 136 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in InterContinental Hotels Group by 0.6% in the 3rd quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock valued at $3,056,000 after acquiring an additional 152 shares during the last quarter. 15.09% of the stock is owned by institutional investors and hedge funds.

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.