Short Interest in The Interpublic Group of Companies, Inc. (NYSE:IPG) Rises By 8.0%

The Interpublic Group of Companies, Inc. (NYSE:IPG) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 24,450,000 shares, a growth of 8.0% from the December 31st total of 22,630,000 shares. Based on an average daily volume of 5,540,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 6.6% of the company’s shares are short sold.

Interpublic Group of Companies Stock Down 0.1 %

Shares of NYSE IPG traded down $0.04 during mid-day trading on Tuesday, hitting $28.96. The company had a trading volume of 1,118,797 shares, compared to its average volume of 4,439,112. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $28.80 and a two-hundred day simple moving average of $30.02. The company has a market capitalization of $10.79 billion, a PE ratio of 13.65 and a beta of 1.11. Interpublic Group of Companies has a one year low of $26.30 and a one year high of $35.17.

Institutional Trading of Interpublic Group of Companies

Hedge funds have recently made changes to their positions in the business. Catalyst Capital Advisors LLC acquired a new stake in shares of Interpublic Group of Companies during the 3rd quarter worth $26,000. Allworth Financial LP grew its stake in Interpublic Group of Companies by 75.8% during the fourth quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after buying an additional 480 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Interpublic Group of Companies in the 3rd quarter valued at about $32,000. Brooklyn Investment Group acquired a new position in shares of Interpublic Group of Companies in the 3rd quarter valued at approximately $60,000. Finally, Trust Co. of Vermont lifted its holdings in shares of Interpublic Group of Companies by 250.0% during the 3rd quarter. Trust Co. of Vermont now owns 2,100 shares of the business services provider’s stock worth $66,000 after acquiring an additional 1,500 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on IPG. Macquarie reissued a “neutral” rating and issued a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Barclays raised Interpublic Group of Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $36.00 in a research note on Friday, January 24th. StockNews.com initiated coverage on Interpublic Group of Companies in a research report on Tuesday, January 28th. They set a “hold” rating on the stock. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $26.00 to $34.00 in a research note on Tuesday, December 10th. Finally, BNP Paribas upgraded shares of Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.75.

About Interpublic Group of Companies

The Interpublic Group of Companies, Inc provides advertising and marketing services worldwide. It operates in three segments: Media, Data & Engagement Solutions, Integrated Advertising & Creativity Led Solutions, and Specialized Communications & Experiential Solutions. The Media, Data & Engagement Solutions segment provides media and communications services, digital services and products, advertising and marketing technology, e-commerce services, data management and analytics, strategic consulting, and digital brand experience under the IPG Mediabrands, UM, Initiative, Kinesso, Acxiom, Huge, MRM, and R/GA brand names.