InterContinental Hotels Group (IHG) Upgraded to “Neutral” at UBS Group

UBS Group upgraded shares of InterContinental Hotels Group (NYSE:IHG) from a sell rating to a neutral rating in a report published on Thursday morning, www.benzinga.com reports.

Separately, Morgan Stanley lowered shares of InterContinental Hotels Group from an equal weight rating to an underweight rating in a report on Monday. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has an average rating of Hold and an average target price of $69.00.

Shares of NYSE:IHG traded up $0.47 during trading hours on Thursday, hitting $56.11. The company’s stock had a trading volume of 130,000 shares, compared to its average volume of 137,938. InterContinental Hotels Group has a 52 week low of $50.84 and a 52 week high of $69.23.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Moody National Bank Trust Division bought a new position in shares of InterContinental Hotels Group during the 4th quarter worth approximately $28,000. Quantbot Technologies LP bought a new position in shares of InterContinental Hotels Group during the 3rd quarter worth approximately $188,000. PNC Financial Services Group Inc. raised its stake in shares of InterContinental Hotels Group by 149.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,332 shares of the company’s stock worth $273,000 after acquiring an additional 2,598 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of InterContinental Hotels Group by 35.7% during the 3rd quarter. Advisory Services Network LLC now owns 5,418 shares of the company’s stock worth $340,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of InterContinental Hotels Group by 11.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,141 shares of the company’s stock worth $635,000 after acquiring an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 6.81% of the company’s stock.

About InterContinental Hotels Group

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, resorts, and restaurants under the InterContinental, Kimpton, Hotel Indigo, EVEN, HUALUXE, Crowne Plaza, Holiday Inn, Holiday Inn Express, Holiday Inn Club Vacations, Holiday Inn Resort, avid, Staybridge Suites, Candlewood Suites, and InterContinental Hotels & Resorts brands.

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