Independent Advisor Alliance Cuts Stake in InterContinental Hotels Group PLC (NYSE:IHG)

Independent Advisor Alliance lessened its stake in shares of InterContinental Hotels Group PLC (NYSE:IHG) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,598 shares of the company’s stock after selling 309 shares during the quarter. Independent Advisor Alliance’s holdings in InterContinental Hotels Group were worth $1,060,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of IHG. Okabena Investment Services Inc. lifted its position in InterContinental Hotels Group by 5.7% during the 3rd quarter. Okabena Investment Services Inc. now owns 17,237 shares of the company’s stock worth $1,905,000 after acquiring an additional 935 shares in the last quarter. Cerity Partners LLC lifted its position in shares of InterContinental Hotels Group by 25.2% during the third quarter. Cerity Partners LLC now owns 12,195 shares of the company’s stock worth $1,347,000 after purchasing an additional 2,456 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in shares of InterContinental Hotels Group by 13.8% in the third quarter. Meridian Wealth Management LLC now owns 2,371 shares of the company’s stock valued at $262,000 after purchasing an additional 288 shares during the period. King Luther Capital Management Corp grew its holdings in InterContinental Hotels Group by 13.7% during the 3rd quarter. King Luther Capital Management Corp now owns 2,449 shares of the company’s stock valued at $271,000 after purchasing an additional 296 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in InterContinental Hotels Group during the 3rd quarter worth $399,000. Hedge funds and other institutional investors own 15.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IHG shares. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 18th. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, InterContinental Hotels Group currently has an average rating of “Hold”.

InterContinental Hotels Group Trading Up 0.4 %

NYSE IHG opened at $125.78 on Wednesday. The company’s fifty day moving average price is $114.21 and its two-hundred day moving average price is $106.06. InterContinental Hotels Group PLC has a 12 month low of $77.84 and a 12 month high of $126.14.

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.