Massachusetts Financial Services Co. MA Raises Holdings in Intercontinental Hotels Group (NYSE:IHG)

Massachusetts Financial Services Co. MA boosted its holdings in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 22.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,093 shares of the company's stock after purchasing an additional 10,735 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Intercontinental Hotels Group were worth $6,476,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in Intercontinental Hotels Group by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 114 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Intercontinental Hotels Group by 67.3% during the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock worth $31,000 after purchasing an additional 101 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Intercontinental Hotels Group by 48.7% during the first quarter. TD Private Client Wealth LLC now owns 348 shares of the company's stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Versant Capital Management Inc boosted its position in Intercontinental Hotels Group by 722.4% during the first quarter. Versant Capital Management Inc now owns 1,283 shares of the company's stock worth $141,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Intercontinental Hotels Group by 67.9% during the fourth quarter. Russell Investments Group Ltd. now owns 1,410 shares of the company's stock worth $176,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Intercontinental Hotels Group Stock Up 0.7%

IHG stock opened at $117.13 on Friday. The business has a fifty day moving average of $117.29 and a two-hundred day moving average of $118.01. The stock has a market cap of $18.11 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. Intercontinental Hotels Group has a 52-week low of $91.57 and a 52-week high of $137.25.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a research report on Monday, April 14th. Two 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. According to MarketBeat, the stock has an average 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.

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