Interpublic Group of Companies, Inc. (The) (NYSE:IPG) Short Interest Down 20.9% in August

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) saw a significant decline in short interest in August. As of August 15th, there was short interest totalling 14,116,833 shares, a decline of 20.9% from the July 31st total of 17,857,815 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average daily volume of 4,601,527 shares, the days-to-cover ratio is presently 3.1 days.

Several equities analysts have recently weighed in on IPG shares. Macquarie cut Interpublic Group of Companies, Inc. (The) from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $28.00 to $24.00 in a research report on Tuesday, June 6th. Jefferies Group LLC restated a “buy” rating and set a $27.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research report on Monday, May 22nd. BidaskClub cut Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Morgan Stanley restated an “equal weight” rating and set a $24.00 target price (down from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a research report on Wednesday, July 26th. Finally, Argus reduced their target price on Interpublic Group of Companies, Inc. (The) from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $26.00.

Shares of Interpublic Group of Companies, Inc. (NYSE:IPG) traded down 0.89% during midday trading on Friday, reaching $20.01. The company’s stock had a trading volume of 6,187,351 shares. The company has a market cap of $7.87 billion, a PE ratio of 14.41 and a beta of 1.53. The company’s 50-day moving average price is $20.66 and its 200-day moving average price is $23.47. Interpublic Group of Companies, Inc. has a 12 month low of $19.57 and a 12 month high of $25.71.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last announced its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.07). Interpublic Group of Companies, Inc. (The) had a net margin of 7.19% and a return on equity of 27.72%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that Interpublic Group of Companies, Inc. will post $1.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 3.60%. Interpublic Group of Companies, Inc. (The)’s dividend payout ratio is presently 51.80%.

In other news, SVP Julie Connors sold 5,854 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $24.26, for a total value of $142,018.04. Following the completion of the transaction, the senior vice president now directly owns 10,592 shares in the company, valued at $256,961.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ellen Tobi Johnson sold 20,000 shares of Interpublic Group of Companies, Inc. (The) stock in a transaction on Monday, August 21st. The shares were sold at an average price of $20.50, for a total value of $410,000.00. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. First Midwest Bank Trust Division grew its stake in shares of Interpublic Group of Companies, Inc. (The) by 0.5% in the 1st quarter. First Midwest Bank Trust Division now owns 10,821 shares of the business services provider’s stock valued at $266,000 after buying an additional 50 shares during the period. Stanley Laman Group Ltd. grew its stake in shares of Interpublic Group of Companies, Inc. (The) by 0.3% in the 2nd quarter. Stanley Laman Group Ltd. now owns 25,352 shares of the business services provider’s stock valued at $624,000 after buying an additional 67 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Interpublic Group of Companies, Inc. (The) by 1.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,123 shares of the business services provider’s stock valued at $224,000 after buying an additional 90 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Interpublic Group of Companies, Inc. (The) by 1.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,235 shares of the business services provider’s stock valued at $227,000 after buying an additional 165 shares during the period. Finally, First Manhattan Co. grew its stake in shares of Interpublic Group of Companies, Inc. (The) by 2.7% in the 2nd quarter. First Manhattan Co. now owns 7,533 shares of the business services provider’s stock valued at $185,000 after buying an additional 195 shares during the period. 98.01% of the stock is owned by institutional investors and hedge funds.

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Interpublic Group of Companies, Inc. (The) Company Profile

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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