The Interpublic Group of Companies, Inc. (NYSE:IPG) Short Interest Down 10.0% in October

The Interpublic Group of Companies, Inc. (NYSE:IPG) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 12,190,000 shares, a decrease of 10.0% from the October 15th total of 13,550,000 shares. Based on an average daily volume of 3,700,000 shares, the short-interest ratio is currently 3.3 days. Currently, 3.2% of the shares of the stock are sold short.

Interpublic Group of Companies Trading Up 1.7 %

Shares of Interpublic Group of Companies stock traded up $0.51 during mid-day trading on Friday, hitting $30.34. The stock had a trading volume of 2,519,120 shares, compared to its average volume of 4,216,621. The firm has a 50-day moving average of $29.21 and a two-hundred day moving average of $33.77. The firm has a market cap of $11.62 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.96 and a beta of 1.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.78. Interpublic Group of Companies has a 12-month low of $27.20 and a 12-month high of $40.95.

Interpublic Group of Companies (NYSE:IPG) last posted its earnings results on Friday, October 20th. The business services provider reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Interpublic Group of Companies had a net margin of 8.59% and a return on equity of 29.72%. Interpublic Group of Companies’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. Sell-side analysts forecast that Interpublic Group of Companies will post 2.97 earnings per share for the current year.

Interpublic Group of Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Thursday, November 30th. Interpublic Group of Companies’s dividend payout ratio is presently 51.67%.

Hedge Funds Weigh In On Interpublic Group of Companies

Several large investors have recently made changes to their positions in IPG. Compass Wealth Management LLC purchased a new stake in Interpublic Group of Companies in the fourth quarter valued at approximately $25,000. Clear Street Markets LLC raised its holdings in shares of Interpublic Group of Companies by 94.9% in the 1st quarter. Clear Street Markets LLC now owns 764 shares of the business services provider’s stock valued at $28,000 after buying an additional 372 shares during the period. Financial Management Professionals Inc. acquired a new position in Interpublic Group of Companies during the 2nd quarter worth about $29,000. HHM Wealth Advisors LLC purchased a new position in Interpublic Group of Companies during the 1st quarter valued at about $33,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in Interpublic Group of Companies in the 3rd quarter valued at about $33,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com upgraded Interpublic Group of Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Macquarie decreased their price objective on Interpublic Group of Companies from $36.00 to $30.00 in a report on Tuesday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Interpublic Group of Companies from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Friday, October 6th. Morgan Stanley lowered their price target on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Interpublic Group of Companies from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Monday, October 23rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.89.

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.