The Interpublic Group of Companies, Inc. (NYSE:IPG) Sees Significant Growth in Short Interest

The Interpublic Group of Companies, Inc. (NYSE:IPG) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 25,860,000 shares, an increase of 9.7% from the September 15th total of 23,570,000 shares. Based on an average daily trading volume, of 3,860,000 shares, the days-to-cover ratio is currently 6.7 days. Currently, 6.9% of the company’s stock are sold short.

Interpublic Group of Companies Price Performance

IPG stock traded up $0.13 during trading on Thursday, hitting $32.06. The company had a trading volume of 3,500,709 shares, compared to its average volume of 3,899,484. Interpublic Group of Companies has a fifty-two week low of $27.20 and a fifty-two week high of $35.17. The company has a market cap of $12.10 billion, a P/E ratio of 11.36, a P/E/G ratio of 5.18 and a beta of 1.09. The company has a fifty day moving average price of $31.33 and a two-hundred day moving average price of $30.78. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Wednesday, July 24th. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. Interpublic Group of Companies had a net margin of 9.46% and a return on equity of 27.98%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Interpublic Group of Companies’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts expect that Interpublic Group of Companies will post 2.83 earnings per share for the current fiscal year.

Interpublic Group of Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date was Tuesday, September 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on IPG shares. Macquarie lowered their price objective on Interpublic Group of Companies from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. Barclays lowered their price target on shares of Interpublic Group of Companies from $34.00 to $32.50 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. BNP Paribas downgraded shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $33.00 in a research report on Tuesday, October 1st. Finally, Bank of America cut their price target on Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Interpublic Group of Companies presently has an average rating of “Hold” and a consensus price target of $32.44.

Hedge Funds Weigh In On Interpublic Group of Companies

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in shares of Interpublic Group of Companies by 15.0% during the 1st quarter. BNP Paribas Financial Markets now owns 989,318 shares of the business services provider’s stock worth $32,281,000 after purchasing an additional 129,215 shares in the last quarter. Alaska Permanent Fund Corp lifted its holdings in shares of Interpublic Group of Companies by 305.6% during the 1st quarter. Alaska Permanent Fund Corp now owns 54,129 shares of the business services provider’s stock worth $1,766,000 after acquiring an additional 40,785 shares during the period. Boston Trust Walden Corp boosted its position in shares of Interpublic Group of Companies by 3.0% during the 2nd quarter. Boston Trust Walden Corp now owns 1,187,086 shares of the business services provider’s stock worth $34,532,000 after acquiring an additional 34,965 shares in the last quarter. Tidal Investments LLC increased its stake in Interpublic Group of Companies by 68.0% in the first quarter. Tidal Investments LLC now owns 121,031 shares of the business services provider’s stock valued at $3,949,000 after acquiring an additional 48,996 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Interpublic Group of Companies by 176.5% during the second quarter. SG Americas Securities LLC now owns 254,498 shares of the business services provider’s stock valued at $7,403,000 after purchasing an additional 162,468 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Interpublic Group of Companies Company Profile

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.