Renaissance Technologies LLC Raises Stock Position in Intercontinental Hotels Group $IHG

Key Points

• Renaissance Technologies increased its IHG stake by 198.5% in the first quarter, acquiring 40,300 additional shares and bringing its total holdings to 60,600 shares valued at approximately $8.1 million.
• Other institutional investors also expanded their positions, though hedge funds and institutions collectively own only 15.09% of IHG.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $174.50, despite Zacks Research issuing a “strong sell” downgrade. IHG shares opened at $157.91, below the consensus target.

Renaissance Technologies LLC boosted its stake in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) by 198.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 60,600 shares of the company's stock after acquiring an additional 40,300 shares during the period. Renaissance Technologies LLC's holdings in Intercontinental Hotels Group were worth $8,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brown Brothers Harriman & Co. boosted its holdings in Intercontinental Hotels Group by 178.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 181 shares of the company's stock worth $25,000 after buying an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Intercontinental Hotels Group by 1,453.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 202 shares of the company's stock valued at $28,000 after acquiring an additional 189 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Intercontinental Hotels Group by 111.0% in the fourth quarter. Fifth Third Bancorp now owns 211 shares of the company's stock valued at $30,000 after acquiring an additional 111 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Intercontinental Hotels Group by 72.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 217 shares of the company's stock worth $30,000 after acquiring an additional 91 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Intercontinental Hotels Group by 525.6% during the fourth quarter. Global Retirement Partners LLC now owns 269 shares of the company's stock worth $38,000 after purchasing an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 15.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IHG. Zacks Research downgraded Intercontinental Hotels Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Jefferies Financial Group upped their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Sanford C. Bernstein raised their price target on shares of Intercontinental Hotels Group from $141.00 to $154.00 and gave the stock a "market perform" rating in a research note on Friday, May 15th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Intercontinental Hotels Group presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Intercontinental Hotels Group Stock Down 2.7%

Shares of Intercontinental Hotels Group stock opened at $157.91 on Tuesday. Intercontinental Hotels Group has a 52 week low of $114.40 and a 52 week high of $175.89. The business's fifty day simple moving average is $163.62 and its 200-day simple moving average is $148.62.

Intercontinental Hotels Group Profile

Intercontinental Hotels Group plc (IHG) is a multinational hospitality company that develops, owns, manages and franchises a broad portfolio of hotels and resorts. The company operates across full-service luxury and upscale segments as well as midscale and extended-stay categories, providing lodging, food and beverage, meeting and event services, and related guest amenities. IHG's business model emphasizes brand franchising and management agreements, while retaining ownership or direct investments in a smaller portion of its global property portfolio.

IHG's brand portfolio spans global and regional names designed to serve different traveler needs and market segments.

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