Intercontinental Hotels Group (NYSE:IHG) Stake Cut by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 27.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 81,881 shares of the company's stock after selling 30,856 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Intercontinental Hotels Group worth $8,973,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Intercontinental Hotels Group by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Farther Finance Advisors LLC grew its position in Intercontinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. Versant Capital Management Inc grew its position in Intercontinental Hotels Group by 722.4% in the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company's stock valued at $141,000 after acquiring an additional 1,127 shares in the last quarter. Russell Investments Group Ltd. grew its position in Intercontinental Hotels Group by 67.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company's stock valued at $176,000 after acquiring an additional 570 shares in the last quarter. Finally, Farringdon Capital Ltd. acquired a new stake in Intercontinental Hotels Group in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 15.09% of the company's stock.

Intercontinental Hotels Group Stock Performance

Shares of IHG stock traded down $0.64 during mid-day trading on Thursday, reaching $117.67. 113,080 shares of the company were exchanged, compared to its average volume of 233,949. Intercontinental Hotels Group has a fifty-two week low of $91.57 and a fifty-two week high of $137.25. The company has a market capitalization of $18.20 billion, a P/E ratio of 20.88, a P/E/G ratio of 1.70 and a beta of 1.33. The business's 50 day simple moving average is $117.11 and its 200 day simple moving average is $117.93.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently 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.