The Interpublic Group of Companies, Inc. (NYSE:IPG) Short Interest Up 12.6% in April

Posted by AM Reporter Staff on May 14th, 2023

The Interpublic Group of Companies, Inc. (NYSE:IPG – Get Rating) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 13,010,000 shares, an increase of 12.6% from the April 15th total of 11,550,000 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average daily volume of 4,130,000 shares, the days-to-cover ratio is currently 3.2 days.

Insiders Place Their Bets

In other news, EVP Andrew Bonzani sold 38,885 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $35.61, for a total transaction of $1,384,694.85. Following the sale, the executive vice president now directly owns 111,769 shares of the company’s stock, valued at $3,980,094.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ellen Tobi Johnson sold 30,437 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $35.56, for a total value of $1,082,339.72. Following the completion of the sale, the chief financial officer now owns 133,533 shares in the company, valued at $4,748,433.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Bonzani sold 38,885 shares of Interpublic Group of Companies stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $35.61, for a total transaction of $1,384,694.85. Following the transaction, the executive vice president now directly owns 111,769 shares in the company, valued at approximately $3,980,094.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,779 shares of company stock valued at $3,250,936. 0.35% of the stock is currently owned by corporate insiders.

Institutional Trading of Interpublic Group of Companies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Shell Asset Management Co. lifted its holdings in shares of Interpublic Group of Companies by 16.9% during the fourth quarter. Shell Asset Management Co. now owns 49,494 shares of the business services provider’s stock worth $1,649,000 after purchasing an additional 7,147 shares during the period. AE Wealth Management LLC boosted its holdings in shares of Interpublic Group of Companies by 9.9% during the 4th quarter. AE Wealth Management LLC now owns 540,526 shares of the business services provider’s stock worth $18,005,000 after buying an additional 48,689 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Interpublic Group of Companies during the 4th quarter worth approximately $546,000. Moloney Securities Asset Management LLC bought a new stake in shares of Interpublic Group of Companies in the 4th quarter valued at $650,000. Finally, US Bancorp DE lifted its position in shares of Interpublic Group of Companies by 1.4% during the 3rd quarter. US Bancorp DE now owns 29,090 shares of the business services provider’s stock valued at $744,000 after acquiring an additional 401 shares during the period. Institutional investors own 96.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on IPG. Citigroup upped their price objective on shares of Interpublic Group of Companies from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. StockNews.com cut Interpublic Group of Companies from a “hold” rating to a “sell” rating in a research report on Monday, May 1st. Barclays dropped their target price on shares of Interpublic Group of Companies from $42.00 to $40.00 in a report on Friday, April 28th. Wells Fargo & Company boosted their target price on Interpublic Group of Companies from $36.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Interpublic Group of Companies from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.50.

Interpublic Group of Companies Trading Up 1.4 %

Shares of Interpublic Group of Companies stock opened at $36.77 on Friday. The firm’s 50-day moving average price is $35.95 and its two-hundred day moving average price is $34.88. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 1.59 and a beta of 1.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.79. Interpublic Group of Companies has a 12-month low of $25.14 and a 12-month high of $39.52.

Interpublic Group of Companies (NYSE:IPG – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The business services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. Interpublic Group of Companies had a return on equity of 29.28% and a net margin of 8.31%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the company earned $0.47 EPS. Interpublic Group of Companies’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts forecast that Interpublic Group of Companies will post 2.9 earnings per share for the current fiscal year.

Interpublic Group of Companies Company Profile

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Interpublic Group of Cos., Inc engages in the provision of marketing, communications, and business transformation services. It operates through the following segments: Media, Data, and Engagement Solutions, Integrated Advertising and Creativity Led Solutions, and Specialized Communications and Experiential Solutions.