Gabelli Funds LLC Has $68.22 Million Position in Interpublic Group of Companies, Inc. (The) (IPG)

Gabelli Funds LLC lessened its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,281,200 shares of the business services provider’s stock after selling 18,000 shares during the quarter. Gabelli Funds LLC owned about 0.84% of Interpublic Group of Companies, Inc. (The) worth $68,216,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Capital Management Corp VA raised its stake in Interpublic Group of Companies, Inc. (The) by 13.6% in the third quarter. Capital Management Corp VA now owns 511,230 shares of the business services provider’s stock valued at $10,628,000 after purchasing an additional 61,225 shares in the last quarter. State of Wisconsin Investment Board raised its stake in Interpublic Group of Companies, Inc. (The) by 15.0% in the third quarter. State of Wisconsin Investment Board now owns 394,566 shares of the business services provider’s stock valued at $8,203,000 after purchasing an additional 51,522 shares in the last quarter. Channing Capital Management LLC raised its stake in Interpublic Group of Companies, Inc. (The) by 69.4% in the third quarter. Channing Capital Management LLC now owns 902,589 shares of the business services provider’s stock valued at $18,765,000 after purchasing an additional 369,803 shares in the last quarter. Dupont Capital Management Corp raised its stake in Interpublic Group of Companies, Inc. (The) by 129.8% in the third quarter. Dupont Capital Management Corp now owns 129,522 shares of the business services provider’s stock valued at $2,693,000 after purchasing an additional 73,155 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in Interpublic Group of Companies, Inc. (The) during the third quarter worth about $1,559,000. 99.65% of the stock is owned by institutional investors and hedge funds.

Interpublic Group of Companies, Inc. (NYSE:IPG) traded down $0.09 during trading on Monday, hitting $18.84. The stock had a trading volume of 1,660,000 shares, compared to its average volume of 7,100,000. Interpublic Group of Companies, Inc. has a one year low of $18.81 and a one year high of $25.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $7,320.00, a P/E ratio of 13.72, a P/E/G ratio of 1.17 and a beta of 1.46.

Interpublic Group of Companies, Inc. (The) (NYSE:IPG) last released its quarterly earnings data on Tuesday, October 24th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.02). Interpublic Group of Companies, Inc. (The) had a net margin of 7.43% and a return on equity of 27.38%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company earned $0.31 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. equities research analysts predict that Interpublic Group of Companies, Inc. will post 1.4 EPS for the current fiscal year.

IPG has been the subject of several research analyst reports. BidaskClub downgraded Interpublic Group of Companies, Inc. (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $26.00 target price on shares of Interpublic Group of Companies, Inc. (The) in a research note on Thursday, July 27th. Morgan Stanley reissued an “equal weight” rating and set a $24.00 target price (down previously from $26.00) on shares of Interpublic Group of Companies, Inc. (The) in a research note on Wednesday, July 26th. Argus lowered their target price on Interpublic Group of Companies, Inc. (The) from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada set a $24.00 target price on Interpublic Group of Companies, Inc. (The) and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Interpublic Group of Companies, Inc. (The) presently has an average rating of “Hold” and a consensus price target of $25.77.

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In other news, SVP Ellen Tobi Johnson sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $20.50, for a total value of $410,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.49% of the company’s stock.

About Interpublic Group of Companies, Inc. (The)

The Interpublic Group of Companies, Inc is a global advertising and marketing services company. The Company specializes in consumer advertising, digital marketing, communications planning and media buying, public relations and specialized communications disciplines. It operates in two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG).

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Institutional Ownership by Quarter for Interpublic Group of Companies, Inc. (The) (NYSE:IPG)

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