Intercontinental Hotels Group (NYSE:IHG) Stock Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• IHG shares moved above their 200-day moving average, reaching $155.47 before last trading around $153.23; the 200-day average was $152.67.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $179. UBS and Jefferies both upgraded or maintained buy ratings with targets above the current price.
• Institutional investors own about 15.09% of IHG, while several hedge funds increased their holdings. The company also declared a $0.645-per-share dividend, although the article’s reported 81.0% yield appears inconsistent with the stock price.

Intercontinental Hotels Group (NYSE:IHG - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $152.67 and traded as high as $155.47. Intercontinental Hotels Group shares last traded at $153.2340, with a volume of 113,075 shares traded.

Wall Street Analyst Weigh In

Several research firms have weighed in on IHG. Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Hotels Group in a report on Friday, August 21st. UBS Group raised Intercontinental Hotels Group from a "neutral" rating to a "buy" rating and set a $188.00 price objective on the stock in a report on Wednesday, September 2nd. Zacks Research upgraded Intercontinental Hotels Group from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 26th. Finally, Jefferies Financial Group raised their target price on shares of Intercontinental Hotels Group from $160.00 to $195.00 and gave the company a "buy" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Intercontinental Hotels Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $179.00.

Intercontinental Hotels Group Trading Down 0.3%

The firm's 50-day moving average price is $158.84 and its 200-day moving average price is $152.67.

Intercontinental Hotels Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, August 21st will be given a dividend of $0.645 per share. The ex-dividend date is Friday, August 21st. This represents a yield of 81.0%.

Hedge Funds Weigh In On Intercontinental Hotels Group

Institutional investors and hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA boosted its stake 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 during the period. Goldman Sachs Group Inc. raised its position in Intercontinental Hotels Group by 1.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 710,121 shares of the company's stock worth $100,006,000 after purchasing an additional 9,235 shares during the period. TD Waterhouse Canada Inc. raised its position in Intercontinental Hotels Group by 179.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 16,306 shares of the company's stock worth $2,747,000 after purchasing an additional 10,476 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Intercontinental Hotels Group in the second quarter worth about $3,259,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Intercontinental Hotels Group by 55.6% in the first 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. Hedge funds and other institutional investors own 15.09% of the company's stock.

About Intercontinental Hotels Group

InterContinental Hotels Group PLC NYSE: IHG, commonly known as IHG Hotels & Resorts, is a global hospitality company that develops, manages, franchises and licenses hotels and resorts. Its portfolio spans luxury, upscale, midscale and extended-stay segments, serving business and leisure travelers in markets around the world.

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

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