Cubist Systematic Strategies LLC Makes New $6.20 Million Investment in Intercontinental Hotels Group $IHG

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 stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 56,606 shares of the company's stock, valued at approximately $6,203,000.

A number of other institutional investors also recently made changes to their positions in IHG. Golden State Wealth Management LLC lifted its stake in Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after acquiring an additional 114 shares during the period. Brooklyn Investment Group lifted its stake in Intercontinental Hotels Group by 219.5% in the first quarter. Brooklyn Investment Group now owns 246 shares of the company's stock valued at $27,000 after buying an additional 169 shares during the last quarter. Whittier Trust Co. grew its holdings in Intercontinental Hotels Group by 186.3% during the first quarter. Whittier Trust Co. now owns 272 shares of the company's stock worth $30,000 after acquiring an additional 177 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Intercontinental Hotels Group by 48.7% in the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Finally, Aviso Financial Inc. purchased a new position in shares of Intercontinental Hotels Group in the 1st quarter worth about $66,000. Hedge funds and other institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Price Performance

Shares of Intercontinental Hotels Group stock traded up $1.85 during trading on Monday, hitting $125.07. The company's stock had a trading volume of 160,111 shares, compared to its average volume of 225,567. The stock has a market cap of $19.22 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27. The stock has a 50-day moving average price of $119.43 and a two-hundred day moving average price of $115.46. Intercontinental Hotels Group has a 52 week low of $94.78 and a 52 week high of $137.25.

Intercontinental Hotels Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Intercontinental Hotels Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Two investment 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. Based on data from MarketBeat, Intercontinental Hotels Group presently has an average rating of "Hold".

Intercontinental Hotels Group Company Profile

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.