The Interpublic Group of Companies, Inc. (NYSE:IPG) Short Interest Update

The Interpublic Group of Companies, Inc. (NYSE:IPG) was the target of a large growth in short interest in 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 trading volume of 5,540,000 shares, the short-interest ratio is presently 4.4 days. Approximately 6.6% of the shares of the company are sold short.

Interpublic Group of Companies Price Performance

Shares of Interpublic Group of Companies stock opened at $29.00 on Tuesday. Interpublic Group of Companies has a 52 week low of $26.30 and a 52 week high of $35.17. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 13.68 and a beta of 1.11. The stock’s 50-day simple moving average is $28.80 and its 200-day simple moving average is $30.02.

Analyst Ratings Changes

Several research analysts have recently weighed in on IPG shares. JPMorgan Chase & Co. raised shares of Interpublic Group of Companies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $32.00 to $39.00 in a report on Monday, January 27th. BNP Paribas raised Interpublic Group of Companies from an “underperform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, January 10th. Macquarie reaffirmed a “neutral” rating and issued a $31.00 price objective on shares of Interpublic Group of Companies in a report on Tuesday, October 22nd. Wells Fargo & Company raised Interpublic Group of Companies from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $34.00 in a report on Tuesday, December 10th. Finally, StockNews.com initiated coverage on Interpublic Group of Companies in a research note on Tuesday, January 28th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $33.75.

Hedge Funds Weigh In On Interpublic Group of Companies

Several hedge funds have recently modified their holdings of the stock. Howard Capital Management Inc. purchased a new stake in Interpublic Group of Companies in the 4th quarter worth $273,000. Fisher Funds Management LTD bought a new stake in shares of Interpublic Group of Companies in the fourth quarter worth about $2,360,000. First Horizon Advisors Inc. lifted its position in shares of Interpublic Group of Companies by 5.8% in the fourth quarter. First Horizon Advisors Inc. now owns 11,507 shares of the business services provider’s stock worth $322,000 after buying an additional 630 shares in the last quarter. Olympiad Research LP boosted its stake in Interpublic Group of Companies by 249.9% during the fourth quarter. Olympiad Research LP now owns 33,134 shares of the business services provider’s stock valued at $928,000 after buying an additional 23,665 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. grew its holdings in Interpublic Group of Companies by 33.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 215,983 shares of the business services provider’s stock valued at $6,052,000 after buying an additional 54,679 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

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.