Interpublic Group of Companies Inc (NYSE:IPG) Sees Large Decrease in Short Interest

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Interpublic Group of Companies Inc (NYSE:IPG) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 20,890,000 shares, a decrease of 5.0% from the April 30th total of 22,000,000 shares. Based on an average trading volume of 6,050,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 5.4% of the company’s stock are short sold.

NYSE IPG opened at $16.48 on Friday. The company has a market cap of $6.36 billion, a PE ratio of 9.69 and a beta of 1.06. Interpublic Group of Companies has a 52 week low of $11.63 and a 52 week high of $25.20. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.86. The firm’s 50-day simple moving average is $15.62 and its two-hundred day simple moving average is $20.24.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Wednesday, April 22nd. The business services provider reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. Interpublic Group of Companies had a net margin of 6.54% and a return on equity of 29.27%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the firm earned $0.11 earnings per share. The company’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Interpublic Group of Companies will post 1.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Friday, May 29th. Interpublic Group of Companies’s dividend payout ratio is presently 52.85%.

In other news, Director Dawn E. Hudson bought 3,100 shares of Interpublic Group of Companies stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $15.79 per share, for a total transaction of $48,949.00. Also, Director Jocelyn Carter-Miller sold 9,767 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $23.71, for a total transaction of $231,575.57. The disclosure for this sale can be found here. Corporate insiders own 1.09% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in IPG. Huntington National Bank increased its position in shares of Interpublic Group of Companies by 23.6% during the fourth quarter. Huntington National Bank now owns 3,120 shares of the business services provider’s stock valued at $72,000 after buying an additional 595 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at about $251,000. Janney Montgomery Scott LLC increased its position in shares of Interpublic Group of Companies by 14.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 47,527 shares of the business services provider’s stock valued at $1,098,000 after buying an additional 6,160 shares during the period. Wealthfront Advisers LLC bought a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at about $590,000. Finally, Advisors Preferred LLC bought a new stake in shares of Interpublic Group of Companies during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 96.00% of the company’s stock.

IPG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on shares of Interpublic Group of Companies from $29.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Citigroup cut their price target on shares of Interpublic Group of Companies from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Morgan Stanley cut their price target on shares of Interpublic Group of Companies from $26.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. ValuEngine downgraded shares of Interpublic Group of Companies from a “hold” rating to a “sell” rating in a report on Wednesday, April 1st. Finally, Cfra dropped their price objective on shares of Interpublic Group of Companies from $25.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $22.00.

Interpublic Group of Companies Company Profile

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. The company operates through two segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.

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