Janney Montgomery Scott LLC Makes New $276,000 Investment in Intercontinental Hotels Group (NYSE:IHG)

Janney Montgomery Scott LLC purchased a new stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,516 shares of the company's stock, valued at approximately $276,000.

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its stake in shares of Intercontinental Hotels Group by 67.3% during 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Intercontinental Hotels Group during the fourth quarter valued at about $42,000. Smartleaf Asset Management LLC raised its stake in shares of 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 acquiring an additional 461 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Intercontinental Hotels Group by 722.4% during 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 during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Intercontinental Hotels Group by 67.9% during 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 during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Intercontinental Hotels Group Price Performance

IHG stock traded up $1.71 during trading on Friday, reaching $119.66. The company had a trading volume of 140,615 shares, compared to its average volume of 200,347. Intercontinental Hotels Group has a 52 week low of $91.57 and a 52 week high of $137.25. The company has a market cap of $18.54 billion, a P/E ratio of 21.22, a PEG ratio of 1.67 and a beta of 1.33. The business has a 50 day moving average of $115.93 and a 200 day moving average of $118.49.

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.