Interpublic Group of Companies, Inc. (The) (IPG) Sees Large Increase in Short Interest

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 31,781,681 shares, a growth of 24.7% from the October 13th total of 25,485,787 shares. Currently, 8.2% of the shares of the company are sold short. Based on an average daily volume of 9,297,891 shares, the days-to-cover ratio is presently 3.4 days.

Interpublic Group of Companies, Inc. (NYSE IPG) opened at $19.05 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $7,403.00, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46. Interpublic Group of Companies, Inc. has a one year low of $18.30 and a one year high of $25.71.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last posted its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.96 billion. Interpublic Group of Companies, Inc. (The) had a return on equity of 27.38% and a net margin of 7.43%. Interpublic Group of Companies, Inc. (The)’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. sell-side analysts expect that Interpublic Group of Companies, Inc. will post 1.4 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Thursday, November 30th. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is currently 50.00%.

In other news, SVP Ellen Tobi Johnson sold 20,000 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $20.50, for a total transaction of $410,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director H John Greeniaus sold 43,479 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $19.00, for a total value of $826,101.00. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Interpublic Group of Companies, Inc. (The) by 1.1% in the second quarter. Vanguard Group Inc. now owns 39,967,140 shares of the business services provider’s stock worth $983,192,000 after purchasing an additional 419,048 shares in the last quarter. BlackRock Inc. boosted its stake in Interpublic Group of Companies, Inc. (The) by 2.7% in the second quarter. BlackRock Inc. now owns 36,204,064 shares of the business services provider’s stock worth $890,619,000 after purchasing an additional 936,771 shares in the last quarter. Boston Partners boosted its stake in Interpublic Group of Companies, Inc. (The) by 1.7% in the second quarter. Boston Partners now owns 21,969,850 shares of the business services provider’s stock worth $540,459,000 after purchasing an additional 376,427 shares in the last quarter. Voya Investment Management LLC boosted its stake in Interpublic Group of Companies, Inc. (The) by 14.7% in the second quarter. Voya Investment Management LLC now owns 9,175,028 shares of the business services provider’s stock worth $225,706,000 after purchasing an additional 1,177,667 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Interpublic Group of Companies, Inc. (The) by 0.3% in the third quarter. Pzena Investment Management LLC now owns 8,964,724 shares of the business services provider’s stock worth $186,377,000 after purchasing an additional 23,799 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on IPG shares. BidaskClub lowered Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price objective on shares of Interpublic Group of Companies, Inc. (The) in a report on Thursday, July 27th. Morgan Stanley reissued an “equal weight” rating and set a $24.00 price objective (down previously from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a report on Wednesday, July 26th. Argus decreased their price objective on Interpublic Group of Companies, Inc. (The) from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada set a $24.00 price objective on Interpublic Group of Companies, Inc. (The) and gave the stock a “hold” rating in a report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.77.

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About Interpublic Group of Companies, Inc. (The)

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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