Janney Montgomery Scott LLC Buys New Shares in Intercontinental Hotels Group (NYSE:IHG)

Janney Montgomery Scott LLC bought a new position in Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,516 shares of the company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Intercontinental Hotels Group by 3.7% during the fourth quarter. Bank of New York Mellon Corp now owns 14,104 shares of the company's stock valued at $1,762,000 after purchasing an additional 502 shares during the period. US Bancorp DE lifted its position in Intercontinental Hotels Group by 7.3% during the fourth quarter. US Bancorp DE now owns 8,663 shares of the company's stock valued at $1,082,000 after purchasing an additional 591 shares during the period. Smartleaf Asset Management LLC lifted its position in Intercontinental Hotels Group by 419.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 571 shares of the company's stock valued at $72,000 after purchasing an additional 461 shares during the period. Jones Financial Companies Lllp lifted its position in Intercontinental Hotels Group by 123.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,476 shares of the company's stock valued at $184,000 after purchasing an additional 816 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Intercontinental Hotels Group during the fourth quarter valued at approximately $42,000. Institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Stock Performance

Shares of Intercontinental Hotels Group stock traded up $1.00 on Wednesday, hitting $120.86. 161,039 shares of the company's stock were exchanged, compared to its average volume of 200,889. Intercontinental Hotels Group has a 1 year low of $91.57 and a 1 year high of $137.25. The company has a 50-day simple moving average of $116.67 and a 200-day simple moving average of $118.42. The stock has a market capitalization of $18.70 billion, a PE ratio of 21.43, a PEG ratio of 1.68 and a beta of 1.33.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

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.