InterContinental Hotels Group (NYSE:IHG) Upgraded to “Buy” at The Goldman Sachs Group

InterContinental Hotels Group (NYSE:IHG) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report released on Wednesday, FinViz reports.

InterContinental Hotels Group Trading Down 0.2 %

Shares of IHG stock opened at $104.26 on Wednesday. The firm has a fifty day moving average price of $100.74 and a 200 day moving average price of $101.92. InterContinental Hotels Group has a 12 month low of $70.06 and a 12 month high of $112.08.

Hedge Funds Weigh In On InterContinental Hotels Group

Several large investors have recently bought and sold shares of IHG. Private Advisor Group LLC acquired a new position in InterContinental Hotels Group in the fourth quarter valued at $243,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of InterContinental Hotels Group during the fourth quarter worth about $338,000. PNC Financial Services Group Inc. boosted its stake in shares of InterContinental Hotels Group by 5.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock worth $319,000 after buying an additional 174 shares during the period. Trexquant Investment LP acquired a new stake in shares of InterContinental Hotels Group during the fourth quarter worth about $2,206,000. Finally, King Luther Capital Management Corp acquired a new stake in shares of InterContinental Hotels Group during the fourth quarter worth about $235,000. Institutional investors and hedge funds own 15.09% of the company’s stock.

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.