Intercontinental Hotels Group (NYSE:IHG) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• IHG shares moved above their 200-day moving average, reaching $161.09 and last trading near $160.77, modestly above the $156.04 long-term average.
• Analyst sentiment is generally positive: IHG has a consensus rating of “Moderate Buy” and an average price target of $179, with recent upgrades from Jefferies and UBS.
• The company reduced its dividend to $0.645 per share from $1.259 previously, while institutional investors increased holdings and collectively own 15.09% of the stock.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $156.04 and traded as high as $161.09. Intercontinental Hotels Group shares last traded at $160.7670, with a volume of 194,604 shares trading hands.

Wall Street Analyst Weigh In

IHG has been the topic of a number of recent research reports. Jefferies Financial Group lifted their target price on Intercontinental Hotels Group from $160.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. Zacks Research raised Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 26th. Finally, UBS Group upgraded Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 price objective for the company in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Hotels Group currently has an average rating of "Moderate Buy" and a consensus price target of $179.00.

Intercontinental Hotels Group Trading Up 0.6%

The company has a 50-day moving average of $158.78 and a 200 day moving average of $156.04.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, August 21st were paid a dividend of $0.6450 per share. This is a decrease from Intercontinental Hotels Group's previous dividend of $1.2590. This represents a yield of 81.0%. The ex-dividend date was Friday, August 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Intercontinental Hotels Group by 55.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 406,572 shares of the company's stock worth $54,261,000 after purchasing an additional 145,360 shares during the last quarter. ABC Arbitrage SA increased its position in shares of Intercontinental Hotels Group by 31.0% during the 1st quarter. ABC Arbitrage SA now owns 134,259 shares of the company's stock worth $17,918,000 after purchasing an additional 31,754 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in Intercontinental Hotels Group by 25.0% during the 1st quarter. Quantinno Capital Management LP now owns 93,268 shares of the company's stock valued at $12,448,000 after purchasing an additional 18,631 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Intercontinental Hotels Group by 198.5% during the 1st quarter. Renaissance Technologies LLC now owns 60,600 shares of the company's stock valued at $8,088,000 after purchasing an additional 40,300 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in Intercontinental Hotels Group by 4.2% in the second quarter. Gradient Investments LLC now owns 38,964 shares of the company's stock valued at $6,745,000 after buying an additional 1,560 shares in the last quarter. 15.09% of the stock is owned by institutional investors.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC NYSE: IHG, commonly known as IHG Hotels & Resorts, is a global hospitality company that operates, manages, franchises and licenses hotels and resorts. Its portfolio serves a broad range of travelers, from luxury and lifestyle guests to business and value-oriented customers.

IHG's brand family includes InterContinental, Regent Hotels & Resorts, Six Senses, Kimpton, Vignette Collection, Crowne Plaza, voco, Hotel Indigo, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, avid hotels, Atwell Suites and Garner Hotel.

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