Graham Capital Management L.P. Acquires Shares of 9,154 Intercontinental Hotels Group $IHG

Key Points

• Graham Capital Management L.P. acquired 9,154 shares of Intercontinental Hotels Group, valued at approximately $1,003,000, indicating growing institutional interest in the company.
• Intercontinental Hotels Group recently announced a semi-annual dividend of $0.566 per share, with a significant dividend yield of 140.0%.
• Analysts have upgraded Intercontinental Hotels Group from a "hold" to a "buy" rating, reflecting a positive shift in market sentiment towards the stock.

Graham Capital Management L.P. bought a new position in Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,154 shares of the company's stock, valued at approximately $1,003,000.

A number of other institutional investors have also recently bought and sold shares of the business. First Trust Advisors LP purchased a new stake in shares of Intercontinental Hotels Group during the 4th quarter worth approximately $1,393,000. Northern Trust Corp boosted its position in Intercontinental Hotels Group by 61.0% in the 4th 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. Jane Street Group LLC raised its stake in shares of Intercontinental Hotels Group by 163.9% during the 4th quarter. Jane Street Group LLC now owns 11,264 shares of the company's stock worth $1,407,000 after acquiring an additional 6,995 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Intercontinental Hotels Group by 5.3% in the 4th quarter. Ameriprise Financial Inc. now owns 7,662 shares of the company's stock valued at $957,000 after acquiring an additional 387 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Intercontinental Hotels Group by 8.9% during the fourth quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock valued at $53,756,000 after purchasing an additional 35,003 shares in the last quarter. Institutional investors and hedge funds own 15.09% of the company's stock.

Wall Street Analysts Forecast Growth

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

Intercontinental Hotels Group Stock Performance

Shares of NYSE IHG traded up $1.74 during midday trading on Monday, hitting $124.96. 153,270 shares of the stock traded hands, compared to its average volume of 225,567. The company has a market cap of $19.20 billion, a PE ratio of 22.10, a P/E/G ratio of 1.70 and a beta of 1.27. The business 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 one year low of $94.78 and a one year high of $137.25.

Intercontinental Hotels Group Cuts Dividend

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

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.