InterContinental Hotels Group (NYSE:IHG) Downgraded by Morgan Stanley to “Underweight”

Morgan Stanley lowered shares of InterContinental Hotels Group (NYSE:IHG) from an equal weight rating to an underweight rating in a research report report published on Wednesday, MarketBeat Ratings reports.

Several other analysts have also recently issued reports on the company. Barclays upgraded InterContinental Hotels Group from an “equal weight” rating to an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group raised shares of InterContinental Hotels Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, InterContinental Hotels Group presently has an average rating of “Hold”.

InterContinental Hotels Group Stock Performance

Shares of IHG stock opened at $121.90 on Wednesday. The stock has a fifty day simple moving average of $123.86 and a two-hundred day simple moving average of $111.49. The firm has a market capitalization of $19.33 billion, a PE ratio of 24.28, a PEG ratio of 1.88 and a beta of 1.32. InterContinental Hotels Group has a 52-week low of $90.62 and a 52-week high of $131.68.

Hedge Funds Weigh In On InterContinental Hotels Group

Institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its position in shares of InterContinental Hotels Group by 130.9% during the 3rd quarter. Assetmark Inc. now owns 769 shares of the company’s stock valued at $85,000 after acquiring an additional 436 shares during the last quarter. Transamerica Financial Advisors Inc. raised its stake in InterContinental Hotels Group by 100,100.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,002 shares of the company’s stock valued at $111,000 after purchasing an additional 1,001 shares in the last quarter. GAMMA Investing LLC lifted its position in InterContinental Hotels Group by 40.7% during the fourth quarter. GAMMA Investing LLC now owns 1,458 shares of the company’s stock valued at $182,000 after purchasing an additional 422 shares during the last quarter. AdvisorShares Investments LLC grew its stake in shares of InterContinental Hotels Group by 73.0% in the 2nd quarter. AdvisorShares Investments LLC now owns 1,583 shares of the company’s stock worth $164,000 after buying an additional 668 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of InterContinental Hotels Group by 22.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,807 shares of the company’s stock worth $200,000 after buying an additional 330 shares during the last quarter. Hedge funds and other institutional investors own 15.09% of the company’s stock.

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.