Liberty Mutual Group Asset Management Inc. Buys New Position in Intercontinental Hotels Group (NYSE:IHG)

Liberty Mutual Group Asset Management Inc. bought a new stake in Intercontinental Hotels Group (NYSE:IHG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,500 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds have also modified their holdings of the company. Koch Industries Inc. acquired a new stake in shares of Intercontinental Hotels Group during the first quarter valued at approximately $282,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Intercontinental Hotels Group during the first quarter valued at approximately $207,000. SG Americas Securities LLC boosted its stake in shares of Intercontinental Hotels Group by 95.9% in the first quarter. SG Americas Securities LLC now owns 37,933 shares of the company’s stock valued at $1,856,000 after buying an additional 18,566 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Intercontinental Hotels Group by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 21,960 shares of the company’s stock valued at $1,075,000 after buying an additional 482 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Intercontinental Hotels Group by 14.9% in the first quarter. Envestnet Asset Management Inc. now owns 58,670 shares of the company’s stock valued at $2,871,000 after buying an additional 7,604 shares during the period. 6.81% of the stock is owned by institutional investors and hedge funds.

Intercontinental Hotels Group (NYSE:IHG) remained flat at $56.32 during trading on Monday. 123,503 shares of the stock were exchanged. Intercontinental Hotels Group has a 1-year low of $39.82 and a 1-year high of $57.80. The firm has a market capitalization of $10.61 billion, a P/E ratio of 27.87 and a beta of 1.34. The firm has a 50 day moving average price of $55.93 and a 200 day moving average price of $52.44.

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IHG has been the subject of several recent research reports. Zacks Investment Research lowered Intercontinental Hotels Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Credit Suisse Group lowered Intercontinental Hotels Group from an “outperform” rating to a “neutral” rating in a report on Monday, June 19th. They noted that the move was a valuation call. Morgan Stanley lowered Intercontinental Hotels Group from an “equal weight” rating to an “underweight” rating in a report on Thursday, June 15th. Finally, BidaskClub lowered Intercontinental Hotels Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Intercontinental Hotels Group has an average rating of “Hold” and a consensus price target of $50.33.

Intercontinental Hotels Group Company Profile

InterContinental Hotels Group PLC is a hotel company. The Company franchises its brands to, and manages hotels on behalf of, third-party hotel owners. Its segments include The Americas; Europe; Asia, Middle East and Africa (AMEA); Greater China, and Central. It operates a portfolio of hotel brands, including InterContinental, HUALUXE, Kimpton, Crowne Plaza, Hotel Indigo, EVEN Hotels, Holiday Inn, Holiday Inn Express, Staybridge Suites Hotels, Holiday Inn Resort, Holiday Inn Club Vacations and Candlewood Suites Hotels.

Institutional Ownership by Quarter for Intercontinental Hotels Group (NYSE:IHG)

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