Ritholtz Wealth Management Sells 1,505 Shares of Intercontinental Hotels Group (NYSE:IHG)

Ritholtz Wealth Management cut its position in Intercontinental Hotels Group (NYSE:IHG) by 11.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,602 shares of the company’s stock after selling 1,505 shares during the quarter. Ritholtz Wealth Management’s holdings in Intercontinental Hotels Group were worth $1,271,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IHG. Allspring Global Investments Holdings LLC increased its position in Intercontinental Hotels Group by 10.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,996 shares of the company’s stock valued at $245,000 after buying an additional 189 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Intercontinental Hotels Group by 7.3% during the fourth quarter. Principal Securities Inc. now owns 5,466 shares of the company’s stock valued at $683,000 after acquiring an additional 371 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Intercontinental Hotels Group by 12.0% during the fourth quarter. Sanctuary Advisors LLC now owns 2,582 shares of the company’s stock valued at $350,000 after acquiring an additional 276 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Intercontinental Hotels Group during the fourth quarter valued at about $72,000. Finally, Atria Wealth Solutions Inc. increased its holdings in shares of Intercontinental Hotels Group by 40.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 5,545 shares of the company’s stock valued at $693,000 after acquiring an additional 1,606 shares in the last quarter. 15.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IHG. Citigroup began coverage on shares of Intercontinental Hotels Group in a research note on Monday, February 24th. They set a “sell” rating on the stock. Deutsche Bank Aktiengesellschaft raised Intercontinental Hotels Group from a “sell” rating to a “hold” rating in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Hotels Group currently has an average rating of “Hold”.

Intercontinental Hotels Group Trading Down 2.1%

Shares of IHG opened at $111.40 on Wednesday. The stock’s 50 day moving average is $112.82 and its two-hundred day moving average is $119.62. Intercontinental Hotels Group has a 12 month low of $91.57 and a 12 month high of $137.25. The firm has a market cap of $17.31 billion, a P/E ratio of 19.75, a PEG ratio of 1.57 and a beta of 1.34.

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.