Capital Management Corp VA Purchases 33,803 Shares of Interpublic Group of Companies Inc (IPG)

Capital Management Corp VA increased its position in shares of Interpublic Group of Companies Inc (NYSE:IPG) by 5.4% in the 3rd quarter, Holdings Channel reports. The firm owned 656,063 shares of the business services provider’s stock after purchasing an additional 33,803 shares during the quarter. Interpublic Group of Companies comprises approximately 3.8% of Capital Management Corp VA’s portfolio, making the stock its 4th biggest holding. Capital Management Corp VA’s holdings in Interpublic Group of Companies were worth $15,004,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Spectrum Management Group Inc. lifted its holdings in Interpublic Group of Companies by 2.2% during the 3rd quarter. Spectrum Management Group Inc. now owns 129,715 shares of the business services provider’s stock worth $2,967,000 after purchasing an additional 2,785 shares during the last quarter. Round Table Services LLC acquired a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $203,000. Assenagon Asset Management S.A. acquired a new stake in Interpublic Group of Companies during the 3rd quarter worth approximately $7,461,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Interpublic Group of Companies by 47.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 56,337 shares of the business services provider’s stock worth $1,288,000 after purchasing an additional 18,100 shares during the last quarter. Finally, Reinhart Partners Inc. lifted its holdings in Interpublic Group of Companies by 6.8% during the 3rd quarter. Reinhart Partners Inc. now owns 1,089,861 shares of the business services provider’s stock worth $24,925,000 after purchasing an additional 69,109 shares during the last quarter. 99.93% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Frank Mergenthaler sold 50,000 shares of Interpublic Group of Companies stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $22.46, for a total value of $1,123,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.49% of the company’s stock.

Interpublic Group of Companies stock opened at $23.16 on Thursday. Interpublic Group of Companies Inc has a one year low of $18.30 and a one year high of $26.01. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.81 and a beta of 1.17.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Friday, October 19th. The business services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Interpublic Group of Companies had a return on equity of 30.99% and a net margin of 6.62%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $0.31 EPS. The company’s revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that Interpublic Group of Companies Inc will post 1.74 earnings per share for the current fiscal year.

A number of research firms have commented on IPG. Zacks Investment Research upgraded Interpublic Group of Companies from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, October 24th. BMO Capital Markets raised their price objective on Interpublic Group of Companies from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 24th. Citigroup raised their price objective on Interpublic Group of Companies from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. Morgan Stanley restated an “equal weight” rating and set a $24.00 price objective on shares of Interpublic Group of Companies in a research note on Monday, October 15th. Finally, JPMorgan Chase & Co. began coverage on Interpublic Group of Companies in a research note on Thursday, October 11th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.56.

Interpublic Group of Companies 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.

Further Reading: What is the 52-week high/low?

Want to see what other hedge funds are holding IPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Interpublic Group of Companies Inc (NYSE:IPG).

Institutional Ownership by Quarter for Interpublic Group of Companies (NYSE:IPG)

Receive News & Ratings for Interpublic Group of Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interpublic Group of Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply