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InterContinental Hotels (IHG), First NBC Bank (FNBC) & More: Afternoon Movers Rocking the Market

The markets opened on a negative note today and have maintained that trend into late-afternoon trading. With uncertainty regarding the upcoming OPEC meeting and presidential debate, it appears investors are in ‘risk off’ mode and paring their bets, which has dragged down the market.

Amid this backdrop, several stocks have been crushed today, thought some have managed to buck the trend and post big gains. Some of the stocks making big moves in either direction today are InterContinental Hotels Group PLC (ADR) (NYSE:IHG), First NBC Bank Holding Company (NASDAQ:FNBC), ClubCorp Holdings Inc (NYSE:MYCC), Lipocine Inc (NASDAQ:LPCN), and Actua Corp (NASDAQ:ACTA). In this article, we’ll explore why investors are furiously trading them and check in on how hedge funds have been trading them lately as well.

The results of our analysis have showed that the small-cap picks of a select group of hedge funds can generate exceptional returns, with the 15 most popular small-cap stocks beating the market by an average of 95 basis points per month (see more details).

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InterContinental Hotels Group PLC (ADR) (NYSE:IHG) stock has tumbled by 5.71% today following ratings downgrades from Goldman Sachs and Morgan Stanley. Goldman Sachs now ranks the stock at ‘Underweight’ and lowered its price target on it to $40.46 from $43.08. Morgan Stanley meanwhile lowered its rating on the stock to ‘Underweight’ from ‘Equal Weight’. Morgan Stanley cited the shares’ recent strong performance and fears that the hotel industry is peaking in the U.S as reasons for the downgrade. Shares of InterContinental Hotels Group PLC (ADR) (NYSE:IHG) have gained 8% in the last three months. Among the funds that we track, seven held $9.93 million worth of InterContinental Hotels’ stock at the end of June, amassing just 0.10% of its outstanding stock, though this was up from four investors that held $4.19 million worth of its shares a quarter earlier.

Follow Intercontinental Hotels Grp Plc (NYSE:IHG)
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First NBC Bank Holding Company (NASDAQ:FNBC) has plunged by 9.15% after it announced after Friday’s close that its Form 10-Q regulatory filing for the latest quarter would be delayed. As First NBC Bank was required to submit its report no later than today as part of a compliance plan with Nasdaq, it now expects to receive a notification from Nasdaq that its stock will be subject to delisting. First NBC Bank could request a hearing, which would delay a delisting by at least 15 days. The number of funds in our database long First NBC Bank Holding Company (NASDAQ:FNBC) stood at 12 at the end of June.

Follow First Nbc Bank Holding Co (NASDAQ:FNBC)
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Three more of the day’s biggest movers are analyzed on the next page.

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