Intercontinental Hotels Group $IHG Stock Position Trimmed by Quadrant Capital Group LLC

Key Points

• Quadrant Capital Group cut its IHG position by 55.5% in the third quarter, selling 12,223 shares and retaining 9,803 shares valued at approximately $1.58 million. Institutional investors collectively own 15.09% of the company.
• Analysts remain broadly positive, with IHG carrying a consensus “Moderate Buy” rating and an average price target of $179. UBS upgraded the stock to “buy,” while Jefferies raised its target to $195.
• IHG shares opened at $167.76, near their 52-week high of $175.89. The company’s latest dividend was reduced to $0.645 per share from $1.259 previously.

Quadrant Capital Group LLC decreased its position in Intercontinental Hotels Group (NYSE:IHG - Free Report) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,803 shares of the company's stock after selling 12,223 shares during the quarter. Quadrant Capital Group LLC's holdings in Intercontinental Hotels Group were worth $1,577,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IHG. GAMMA Investing LLC boosted its stake in shares of Intercontinental Hotels Group by 3.6% in the second quarter. GAMMA Investing LLC now owns 2,011 shares of the company's stock valued at $348,000 after purchasing an additional 70 shares during the period. Versant Capital Management Inc grew its holdings in Intercontinental Hotels Group by 2.2% during the 3rd quarter. Versant Capital Management Inc now owns 3,420 shares of the company's stock valued at $550,000 after purchasing an additional 72 shares in the last quarter. Compound Planning Inc. grew its holdings in Intercontinental Hotels Group by 5.4% during the 1st quarter. Compound Planning Inc. now owns 1,694 shares of the company's stock valued at $226,000 after purchasing an additional 87 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Intercontinental Hotels Group by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 19,352 shares of the company's stock worth $2,583,000 after buying an additional 106 shares during the period. Finally, Cordatus Wealth Management LLC increased its stake in Intercontinental Hotels Group by 3.6% during the 3rd quarter. Cordatus Wealth Management LLC now owns 3,431 shares of the company's stock worth $552,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group upgraded shares of Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 price objective on the stock in a report on Wednesday, September 2nd. Jefferies Financial Group raised their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Bank of America restated a "buy" rating on shares of Intercontinental Hotels Group in a research note on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Friday, August 21st. Finally, Zacks Research upgraded Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $179.00.

Intercontinental Hotels Group Stock Down 1.8%

NYSE:IHG opened at $167.76 on Friday. The business's 50 day moving average is $160.06 and its two-hundred day moving average is $157.77. Intercontinental Hotels Group has a 52 week low of $120.16 and a 52 week high of $175.89.

Intercontinental Hotels Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, October 1st. Investors of record on Friday, August 21st were paid a dividend of $0.6450 per share. This represents a yield of 81.0%. This is a drop from Intercontinental Hotels Group's previous dividend of $1.2590. The ex-dividend date was Friday, August 21st.

Intercontinental Hotels Group Profile

InterContinental Hotels Group PLC NYSE: IHG is a global hospitality company that owns, manages, franchises and licenses a portfolio of hotel brands. Its brands include InterContinental, Regent, Six Senses, Kimpton, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels and Garner.

IHG serves business and leisure travelers across a broad range of lodging segments, from luxury and lifestyle hotels to full-service, upscale, midscale and extended-stay accommodations.

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