15,052 Shares in Intercontinental Hotels Group (NYSE:IHG) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired 15,052 shares in Intercontinental Hotels Group, investing approximately $1,650,000 during the first quarter.
• Institutional investors and hedge funds own about 15.09% of Intercontinental Hotels Group's stock, indicating growing interest among major financial players.
• Deutsche Bank upgraded Intercontinental Hotels Group’s rating from "sell" to "hold," reflecting a shift in market sentiment around the company's stock.

XTX Topco Ltd bought a new position in Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,052 shares of the company's stock, valued at approximately $1,650,000.

Several other hedge funds have also modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Intercontinental Hotels Group by 8.9% in the fourth quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock worth $53,756,000 after acquiring an additional 35,003 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in shares of Intercontinental Hotels Group by 1.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company's stock worth $46,613,000 after acquiring an additional 6,709 shares during the last quarter. GAMMA Investing LLC raised its holdings in Intercontinental Hotels Group by 9,964.5% in the first quarter. GAMMA Investing LLC now owns 146,741 shares of the company's stock valued at $160,810,000 after buying an additional 145,283 shares during the period. Northern Trust Corp raised its holdings in Intercontinental Hotels Group by 61.0% in the fourth quarter. Northern Trust Corp now owns 146,274 shares of the company's stock valued at $18,273,000 after buying an additional 55,404 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Intercontinental Hotels Group by 1.3% in the fourth quarter. Renaissance Technologies LLC now owns 140,800 shares of the company's stock valued at $17,589,000 after buying an additional 1,800 shares during the period. 15.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Intercontinental Hotels Group currently has an average rating of "Hold".

Intercontinental Hotels Group Stock Performance

NYSE IHG opened at $116.00 on Friday. Intercontinental Hotels Group has a one year low of $91.57 and a one year high of $137.25. The company's 50 day moving average price is $116.63 and its 200 day moving average price is $117.72. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.69 and a beta of 1.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.