Interpublic Group of Companies Inc (NYSE:IPG) Short Interest Up 6.8% in October

Interpublic Group of Companies Inc (NYSE:IPG) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 22,590,000 shares, an increase of 6.8% from the September 30th total of 21,160,000 shares. Based on an average daily trading volume, of 3,240,000 shares, the short-interest ratio is presently 7.0 days. Approximately 5.9% of the shares of the stock are short sold.

Shares of IPG traded up $0.10 on Friday, reaching $22.33. 1,349,082 shares of the company’s stock were exchanged, compared to its average volume of 2,783,956. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $8.58 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The business has a 50 day moving average price of $21.38 and a two-hundred day moving average price of $21.79. Interpublic Group of Companies has a 12 month low of $19.56 and a 12 month high of $24.48.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.02. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. Interpublic Group of Companies had a net margin of 6.42% and a return on equity of 31.19%. Interpublic Group of Companies’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities research analysts predict that Interpublic Group of Companies will post 1.89 EPS for the current year.

In other Interpublic Group of Companies news, CEO Michael Isor Roth sold 100,314 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $22.04, for a total value of $2,210,920.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Julie Connors sold 10,690 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $22.23, for a total transaction of $237,638.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,004 shares of company stock worth $2,668,559. Company insiders own 1.09% of the company’s stock.

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Several institutional investors and hedge funds have recently bought and sold shares of IPG. Coastal Capital Group Inc. bought a new stake in shares of Interpublic Group of Companies during the second quarter worth approximately $26,000. Private Capital Group LLC raised its stake in shares of Interpublic Group of Companies by 112.2% during the second quarter. Private Capital Group LLC now owns 1,110 shares of the business services provider’s stock worth $26,000 after buying an additional 587 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Interpublic Group of Companies during the third quarter worth approximately $26,000. TD Capital Management LLC bought a new stake in shares of Interpublic Group of Companies during the second quarter worth approximately $42,000. Finally, Coastal Investment Advisors Inc. bought a new stake in shares of Interpublic Group of Companies during the second quarter worth approximately $43,000. 97.18% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on IPG. Wells Fargo & Co began coverage on shares of Interpublic Group of Companies in a research note on Monday, September 23rd. They issued a “market perform” rating and a $23.00 target price for the company. BMO Capital Markets dropped their target price on shares of Interpublic Group of Companies from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. ValuEngine raised shares of Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Finally, TheStreet raised shares of Interpublic Group of Companies from a “c+” rating to a “b-” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.20.

About Interpublic Group of Companies

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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