Okabena Investment Services Inc. Purchases 935 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Okabena Investment Services Inc. raised its position in InterContinental Hotels Group PLC (NYSE:IHG) by 5.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,237 shares of the company’s stock after buying an additional 935 shares during the quarter. Okabena Investment Services Inc.’s holdings in InterContinental Hotels Group were worth $1,905,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in shares of InterContinental Hotels Group by 46.9% in the first quarter. Russell Investments Group Ltd. now owns 332 shares of the company’s stock valued at $35,000 after purchasing an additional 106 shares during the last quarter. Bank of New York Mellon Corp grew its position in InterContinental Hotels Group by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 12,620 shares of the company’s stock valued at $1,337,000 after purchasing an additional 106 shares in the last quarter. GAMMA Investing LLC increased its stake in InterContinental Hotels Group by 15.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,008 shares of the company’s stock valued at $107,000 after buying an additional 135 shares during the last quarter. QRG Capital Management Inc. lifted its position in InterContinental Hotels Group by 0.6% during the 3rd quarter. QRG Capital Management Inc. now owns 27,660 shares of the company’s stock worth $3,056,000 after buying an additional 152 shares in the last quarter. Finally, Ballentine Partners LLC boosted its stake in shares of InterContinental Hotels Group by 7.2% during the 2nd quarter. Ballentine Partners LLC now owns 2,303 shares of the company’s stock worth $244,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds own 15.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IHG. The Goldman Sachs Group upgraded InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, InterContinental Hotels Group has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

InterContinental Hotels Group stock opened at $123.41 on Friday. The company’s 50-day moving average is $113.80 and its 200-day moving average is $105.84. InterContinental Hotels Group PLC has a fifty-two week low of $77.84 and a fifty-two week high of $124.09.

InterContinental Hotels Group Company Profile

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.