InterContinental Hotels Group (NYSE:IHG) Shares Gap Down – What’s Next?

InterContinental Hotels Group PLC (NYSE:IHG)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $112.68, but opened at $108.43. InterContinental Hotels Group shares last traded at $108.15, with a volume of 54,652 shares.

Wall Street Analysts Forecast Growth

IHG has been the subject of a number of research reports. Citigroup assumed coverage on shares of InterContinental Hotels Group in a report on Monday, February 24th. They issued a “sell” rating for the company. Sanford C. Bernstein raised shares of InterContinental Hotels Group from an “underperform” rating to a “market perform” rating in a research report on Friday, January 10th. Finally, Morgan Stanley lowered shares of InterContinental Hotels Group from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, InterContinental Hotels Group has a consensus rating of “Hold”.

InterContinental Hotels Group Stock Performance

The stock’s 50-day moving average price is $126.68 and its two-hundred day moving average price is $120.24. The stock has a market capitalization of $17.26 billion, a PE ratio of 19.40, a P/E/G ratio of 1.69 and a beta of 1.33.

InterContinental Hotels Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, May 15th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.144 per share. This represents a dividend yield of 1.4%. The ex-dividend date is Friday, April 4th. This is an increase from InterContinental Hotels Group’s previous semi-annual dividend of $0.53. InterContinental Hotels Group’s dividend payout ratio (DPR) is presently 39.36%.

Hedge Funds Weigh In On InterContinental Hotels Group

Several large investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of InterContinental Hotels Group by 5.8% in the third quarter. FMR LLC now owns 6,387,525 shares of the company’s stock worth $705,758,000 after buying an additional 351,723 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of InterContinental Hotels Group during the fourth quarter valued at about $13,796,000. ABC Arbitrage SA purchased a new stake in shares of InterContinental Hotels Group during the fourth quarter valued at about $11,846,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of InterContinental Hotels Group by 241.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the company’s stock valued at $15,965,000 after acquiring an additional 90,339 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in InterContinental Hotels Group in the 3rd quarter worth approximately $86,000. 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.