56,606 Shares in Intercontinental Hotels Group $IHG Purchased by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC acquired 56,606 shares of Intercontinental Hotels Group, valued at approximately $6.2 million, indicating strong institutional interest in the company.
• Intercontinental Hotels Group's stock has a market capitalization of $18.66 billion, with a current PE ratio of 21.51 and has recently opened at $121.34.
• The company recently raised its semi-annual dividend to $0.566, representing a yield of 140.0%, amid a dividend payout ratio of 20.04%.

Cubist Systematic Strategies LLC purchased a new position in Intercontinental Hotels Group (NYSE:IHG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 56,606 shares of the company's stock, valued at approximately $6,203,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IHG. Graham Capital Management L.P. acquired a new position in shares of Intercontinental Hotels Group in the 1st quarter worth approximately $1,003,000. Vident Advisory LLC raised its position in shares of Intercontinental Hotels Group by 34.3% during the 1st quarter. Vident Advisory LLC now owns 6,045 shares of the company's stock valued at $663,000 after acquiring an additional 1,543 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Intercontinental Hotels Group by 127.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 21,135 shares of the company's stock valued at $2,316,000 after acquiring an additional 11,854 shares during the last quarter. Freedom Investment Management Inc. raised its position in shares of Intercontinental Hotels Group by 4.4% during the 1st quarter. Freedom Investment Management Inc. now owns 3,929 shares of the company's stock valued at $431,000 after acquiring an additional 166 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Intercontinental Hotels Group in the 1st quarter valued at $76,000. 15.09% of the stock is currently owned by institutional investors.

Intercontinental Hotels Group Trading Down 1.0%

NYSE:IHG traded down $1.21 on Tuesday, reaching $123.77. 62,370 shares of the stock traded hands, compared to its average volume of 224,817. The company has a market capitalization of $19.02 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.70 and a beta of 1.27. Intercontinental Hotels Group has a 12 month low of $94.78 and a 12 month high of $137.25. The company's fifty day simple moving average is $119.63 and its 200 day simple moving average is $115.47.

Intercontinental Hotels Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Friday, August 22nd will be issued a dividend of $0.566 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a yield of 140.0%. Intercontinental Hotels Group's payout ratio is currently 20.04%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold".

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.