Calamos Advisors LLC Sells 1,116,859 Shares of Interpublic Group of Companies, Inc. (The) $IPG

Calamos Advisors LLC cut its holdings in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 65.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 583,141 shares of the business services provider’s stock after selling 1,116,859 shares during the period. Calamos Advisors LLC owned 0.16% of Interpublic Group of Companies worth $14,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust lifted its position in shares of Interpublic Group of Companies by 72.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the business services provider’s stock worth $34,000 after acquiring an additional 585 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Interpublic Group of Companies by 20.0% during the 1st quarter. Brooklyn Investment Group now owns 2,349 shares of the business services provider’s stock worth $64,000 after purchasing an additional 391 shares in the last quarter. Private Trust Co. NA boosted its stake in Interpublic Group of Companies by 22.9% in the 2nd quarter. Private Trust Co. NA now owns 2,606 shares of the business services provider’s stock worth $64,000 after purchasing an additional 485 shares during the period. Assetmark Inc. boosted its stake in Interpublic Group of Companies by 54.1% in the 2nd quarter. Assetmark Inc. now owns 3,071 shares of the business services provider’s stock worth $75,000 after purchasing an additional 1,078 shares during the period. Finally, Private Wealth Asset Management LLC grew its holdings in Interpublic Group of Companies by 10.9% during the 2nd quarter. Private Wealth Asset Management LLC now owns 4,060 shares of the business services provider’s stock valued at $99,000 after buying an additional 400 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays cut their price objective on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Interpublic Group of Companies in a report on Wednesday, October 8th. UBS Group reduced their price target on shares of Interpublic Group of Companies from $27.00 to $25.60 and set a “neutral” rating for the company in a research report on Wednesday, July 23rd. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Finally, Zacks Research cut Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.18.

Interpublic Group of Companies Stock Up 0.5%

Shares of IPG opened at $25.49 on Thursday. The firm has a market cap of $9.33 billion, a P/E ratio of 21.60 and a beta of 1.12. The stock has a 50 day simple moving average of $26.33 and a two-hundred day simple moving average of $25.41. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last announced its quarterly earnings data on Monday, November 10th. The business services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Interpublic Group of Companies had a net margin of 4.27% and a return on equity of 28.72%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts forecast that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies 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.