Highland Capital Management LLC Sells 475 Shares of InterContinental Hotels Group PLC (NYSE:IHG)

Highland Capital Management LLC reduced its stake in InterContinental Hotels Group PLC (NYSE:IHG) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,440 shares of the company’s stock after selling 475 shares during the quarter. Highland Capital Management LLC’s holdings in InterContinental Hotels Group were worth $2,304,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of InterContinental Hotels Group by 29.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 320,286 shares of the company’s stock valued at $35,388,000 after buying an additional 73,361 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of InterContinental Hotels Group in the third quarter worth approximately $86,000. Jane Street Group LLC increased its stake in shares of InterContinental Hotels Group by 120.2% in the third quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock worth $472,000 after purchasing an additional 2,330 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of InterContinental Hotels Group by 6.7% during the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock valued at $1,943,000 after buying an additional 1,107 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in InterContinental Hotels Group in the 3rd quarter worth $1,699,000. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

InterContinental Hotels Group Trading Up 1.0 %

Shares of IHG stock opened at $135.44 on Friday. The stock’s 50-day moving average price is $126.81 and its 200-day moving average price is $113.98. InterContinental Hotels Group PLC has a 12-month low of $91.57 and a 12-month high of $136.58. The stock has a market capitalization of $21.46 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32.

Analysts Set New Price Targets

A number of research firms have commented on IHG. Morgan Stanley cut InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 8th. Sanford C. Bernstein raised InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Barclays raised shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

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.