Intercontinental Hotels Group (NYSE:IHG) Stock Price Breaks Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• IHG shares broke above their 200-day moving average, reaching $160.91 before trading near $159.70, compared with a 200-day average of $154.84.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $179; UBS and Jefferies recently raised their ratings or targets.
• The company’s latest dividend was cut to $0.645 per share from $1.259, while institutional investors and hedge funds own approximately 15.1% of IHG stock.

Shares of Intercontinental Hotels Group (NYSE:IHG - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $154.84 and traded as high as $160.91. Intercontinental Hotels Group shares last traded at $159.6960, with a volume of 112,964 shares trading hands.

Wall Street Analysts Forecast Growth

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

Intercontinental Hotels Group Stock Down 1.3%

The business has a fifty day moving average of $158.83 and a two-hundred day moving average of $154.84.

Intercontinental Hotels Group Cuts Dividend

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

Hedge Funds Weigh In On Intercontinental Hotels Group

A number of large investors have recently added to or reduced their stakes in IHG. Versant Capital Management Inc increased its stake in shares of Intercontinental Hotels Group by 2.2% during the third quarter. Versant Capital Management Inc now owns 3,420 shares of the company's stock worth $550,000 after purchasing an additional 72 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Intercontinental Hotels Group by 12.1% during the second quarter. QRG Capital Management Inc. now owns 16,723 shares of the company's stock worth $2,895,000 after purchasing an additional 1,799 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Intercontinental Hotels Group by 14.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,759 shares of the company's stock worth $651,000 after purchasing an additional 467 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Intercontinental Hotels Group in the 2nd quarter valued at $82,000. Finally, NewEdge Advisors LLC raised its stake in Intercontinental Hotels Group by 9.1% in the 2nd quarter. NewEdge Advisors LLC now owns 8,950 shares of the company's stock valued at $1,549,000 after purchasing an additional 743 shares during the last quarter. 15.09% of the stock is currently owned by institutional investors and hedge funds.

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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