InterContinental Hotels Group (NYSE:IHG) Sees Unusually-High Trading Volume – Still a Buy?

InterContinental Hotels Group PLC (NYSE:IHG) shares saw an uptick in trading volume on Thursday . 300,068 shares changed hands during mid-day trading, an increase of 99% from the previous session’s volume of 150,571 shares.The stock last traded at $127.47 and had previously closed at $129.54.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IHG shares. Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a report on Friday, January 10th. Finally, Barclays upgraded shares of InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

InterContinental Hotels Group Trading Down 1.1 %

The firm’s 50-day moving average price is $128.77 and its two-hundred day moving average price is $116.94.

Institutional Trading of InterContinental Hotels Group

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in InterContinental Hotels Group by 29.7% in 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 during the last quarter. Entropy Technologies LP bought a new position in shares of InterContinental Hotels Group during the fourth quarter worth about $262,000. World Investment Advisors LLC bought a new position in shares of InterContinental Hotels Group during the third quarter worth about $86,000. Jane Street Group LLC lifted its holdings in InterContinental Hotels Group by 120.2% during the 3rd quarter. Jane Street Group LLC now owns 4,269 shares of the company’s stock worth $472,000 after buying an additional 2,330 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in InterContinental Hotels Group by 6.7% during the 3rd quarter. Stifel Financial Corp now owns 17,581 shares of the company’s stock worth $1,943,000 after buying an additional 1,107 shares during the last quarter. 15.09% of the stock is owned by hedge funds and other institutional investors.

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.