Bank of New York Mellon Corp Increases Position in Intercontinental Hotels Group (NYSE:IHG)

Bank of New York Mellon Corp boosted its stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 24.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,563 shares of the company's stock after purchasing an additional 3,459 shares during the period. Bank of New York Mellon Corp's holdings in Intercontinental Hotels Group were worth $1,925,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in shares of Intercontinental Hotels Group by 8.9% in the fourth quarter. Bank of America Corp DE now owns 430,323 shares of the company's stock worth $53,756,000 after buying an additional 35,003 shares in the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of Intercontinental Hotels Group by 1.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 373,139 shares of the company's stock valued at $46,613,000 after purchasing an additional 6,709 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intercontinental Hotels Group by 9,964.5% during the 1st quarter. GAMMA Investing LLC now owns 146,741 shares of the company's stock valued at $160,810,000 after buying an additional 145,283 shares in the last quarter. Northern Trust Corp grew its position in Intercontinental Hotels Group by 61.0% in the fourth quarter. Northern Trust Corp now owns 146,274 shares of the company's stock worth $18,273,000 after acquiring an additional 55,404 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Intercontinental Hotels Group by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 140,800 shares of the company's stock worth $17,589,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft raised 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Intercontinental Hotels Group Price Performance

NYSE IHG traded down $1.52 during trading on Friday, reaching $114.64. 160,989 shares of the company's stock traded hands, compared to its average volume of 161,611. The company's 50 day simple moving average is $116.57 and its two-hundred day simple moving average is $117.66. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.66 and a beta of 1.33. Intercontinental Hotels Group has a 12-month low of $91.57 and a 12-month high of $137.25.

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.