Schechter Investment Advisors LLC Makes New $241,000 Investment in Intercontinental Hotels Group (NYSE:IHG)

Schechter Investment Advisors LLC bought a new position in shares of Intercontinental Hotels Group (NYSE:IHG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,202 shares of the company's stock, valued at approximately $241,000.

Several other hedge funds have also added to or reduced their stakes in IHG. Aaron Wealth Advisors LLC grew its stake in shares of Intercontinental Hotels Group by 4.5% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,245 shares of the company's stock worth $246,000 after acquiring an additional 96 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Intercontinental Hotels Group by 4.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,092 shares of the company's stock worth $232,000 after buying an additional 96 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Intercontinental Hotels Group by 67.3% in the fourth quarter. Farther Finance Advisors LLC now owns 251 shares of the company's stock worth $31,000 after buying an additional 101 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Intercontinental Hotels Group by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 228 shares of the company's stock worth $25,000 after buying an additional 114 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Intercontinental Hotels Group by 48.7% in 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 during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Hotels Group Price Performance

Intercontinental Hotels Group stock traded up $0.82 during midday trading on Friday, reaching $117.13. The company's stock had a trading volume of 190,896 shares, compared to its average volume of 202,055. The stock's 50-day simple moving average is $117.27 and its 200-day simple moving average is $118.11. Intercontinental Hotels Group has a 52-week low of $91.57 and a 52-week high of $137.25. The stock has a market capitalization of $18.11 billion, a P/E ratio of 20.77, a PEG ratio of 1.68 and a beta of 1.33.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Hotels Group from a "sell" rating to a "hold" rating in a 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 company's stock. Based on data from MarketBeat, the company 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.