Highland Capital Management Trims Stake in InterContinental Hotels GroupHighland Capital Management Trims Stake in InterContinental Hotels Group In a recent SEC filing, Highland Capital Management LLC disclosed the sale of 11,850 shares of InterContinental Hotels Group PLC (NYSE: IHG). The transaction, dated September 26, 2023, reduced Highland’s stake in the hotel company to 1,027,506 shares. The average price per share at the time of the sale was $40.66, valuing the transaction at approximately $482,949. Highland’s remaining stake in IHG is worth over $41.8 million based on the current market price of $40.76 per share. InterContinental Hotels Group is a global hotel company with a portfolio of over 6,000 hotels in more than 100 countries. The company operates brands such as Holiday Inn, Crowne Plaza, and InterContinental. While Highland’s sale represents a small reduction in its IHG stake, it is noteworthy as the investment firm has been a long-term holder of the company’s shares. The sale may indicate that Highland sees limited upside potential in the near term or is adjusting its portfolio strategy. It is important to note that the sale does not necessarily indicate a negative view of IHG’s business prospects. The hotel industry has been facing challenges in recent years, including economic uncertainty and increased competition from alternative lodging options such as Airbnb. However, IHG has been investing heavily in its brands and expanding its presence in key markets. Investors should monitor the company’s financial performance and industry trends to assess the potential impact of Highland’s sale on IHG’s share price.
Highland Capital Management LLC Sells 11,850 Shares of InterContinental Hotels Group PLC (NYSE:IHG)MarketBeat
