InterContinental Hotels Group PLC (NYSE:IHG) Shares Sold by Wealthstar Advisors LLC

Wealthstar Advisors LLC lessened its holdings in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 2.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,457 shares of the company’s stock after selling 324 shares during the quarter. Wealthstar Advisors LLC’s holdings in InterContinental Hotels Group were worth $1,422,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of InterContinental Hotels Group during the first quarter worth approximately $48,000. Ballentine Partners LLC purchased a new position in InterContinental Hotels Group in the first quarter valued at approximately $227,000. &PARTNERS purchased a new position in InterContinental Hotels Group in the first quarter valued at approximately $285,000. Park Avenue Securities LLC purchased a new position in InterContinental Hotels Group in the first quarter valued at approximately $223,000. Finally, PNC Financial Services Group Inc. increased its stake in InterContinental Hotels Group by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,497 shares of the company’s stock valued at $319,000 after purchasing an additional 174 shares during the last quarter. 15.09% of the stock is currently owned by hedge funds and other institutional investors.

InterContinental Hotels Group Stock Performance

Shares of IHG traded up $1.03 during mid-day trading on Thursday, reaching $105.27. 68,182 shares of the company’s stock were exchanged, compared to its average volume of 167,770. The business’s fifty day simple moving average is $101.89 and its 200-day simple moving average is $100.06. InterContinental Hotels Group PLC has a 52-week low of $67.09 and a 52-week high of $112.08.

Analyst Upgrades and Downgrades

Several brokerages have commented on IHG. Sanford C. Bernstein lowered shares of InterContinental Hotels Group from a “market perform” rating to an “underperform” rating in a research note on Wednesday, March 13th. Jefferies Financial Group lowered shares of InterContinental Hotels Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

InterContinental Hotels Group 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.