Dimensional Fund Advisors LP cut its stake in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,999 shares of the company's stock after selling 6,860 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.11% of Intercontinental Hotels Group worth $22,822,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. CCLA Investment Management purchased a new position in Intercontinental Hotels Group in the fourth quarter valued at about $114,306,000. Lord Abbett & CO. LLC acquired a new stake in shares of Intercontinental Hotels Group during the 4th quarter valued at about $26,758,000. Lazard Asset Management LLC grew its stake in shares of Intercontinental Hotels Group by 98.4% in the 2nd quarter. Lazard Asset Management LLC now owns 355,863 shares of the company's stock valued at $41,044,000 after buying an additional 176,502 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Intercontinental Hotels Group by 63.1% in the 3rd quarter. Marshall Wace LLP now owns 281,557 shares of the company's stock valued at $34,142,000 after buying an additional 108,935 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Intercontinental Hotels Group by 79.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 240,639 shares of the company's stock worth $29,180,000 after buying an additional 106,806 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on IHG. Sanford C. Bernstein raised their price objective on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the company a "market perform" rating in a research report on Friday, May 15th. Zacks Research lowered shares of Intercontinental Hotels Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Jefferies Financial Group raised their price target on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a report on Friday, June 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $174.50.
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Intercontinental Hotels Group Price Performance
Intercontinental Hotels Group stock opened at $159.32 on Friday. Intercontinental Hotels Group has a fifty-two week low of $116.22 and a fifty-two week high of $175.89. The firm has a fifty day moving average price of $163.74 and a two-hundred day moving average price of $149.06.
Intercontinental Hotels Group Profile
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Free Report)
Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG's business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.
IHG's brand portfolio spans global and regional names designed to serve different traveler needs and market segments.
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