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

Shares of InterContinental Hotels Group PLC (NYSE:IHG) saw unusually-strong trading volume on Friday . Approximately 67,073 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 83,439 shares.The stock last traded at $123.84 and had previously closed at $121.83.

Analyst Upgrades and Downgrades

IHG has been the subject of a number of recent research reports. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research note on Friday. Barclays raised InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group raised InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley downgraded InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

InterContinental Hotels Group Stock Up 0.9 %

The company’s 50 day simple moving average is $124.07 and its 200-day simple moving average is $111.56. The firm has a market cap of $19.48 billion, a P/E ratio of 24.48, a P/E/G ratio of 1.88 and a beta of 1.32.

Hedge Funds Weigh In On InterContinental Hotels Group

A number of large investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of InterContinental Hotels Group by 5.8% during the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after purchasing an additional 351,723 shares during the last quarter. World Investment Advisors LLC bought a new stake in InterContinental Hotels Group during the 3rd quarter valued at about $86,000. 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 period. Bank of Montreal Can bought a new position in InterContinental Hotels Group in the 2nd quarter worth about $3,892,000. Finally, Mediolanum International Funds Ltd purchased a new position in shares of InterContinental Hotels Group during the third quarter worth approximately $1,699,000. Hedge funds and other institutional investors own 15.09% 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 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.