Profund Advisors LLC Cuts Stock Position in Interpublic Group of Companies, Inc. (The) $IPG

Profund Advisors LLC lessened its stake in shares of Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 36.9% in the 2nd quarter, Holdings Channel reports. The firm owned 16,236 shares of the business services provider’s stock after selling 9,510 shares during the period. Profund Advisors LLC’s holdings in Interpublic Group of Companies were worth $397,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in Interpublic Group of Companies by 14,575.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,119,249 shares of the business services provider’s stock valued at $76,359,000 after buying an additional 3,097,994 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Interpublic Group of Companies by 49.0% during the first quarter. Goldman Sachs Group Inc. now owns 8,510,242 shares of the business services provider’s stock worth $231,138,000 after acquiring an additional 2,797,490 shares during the period. Pentwater Capital Management LP increased its stake in shares of Interpublic Group of Companies by 568.6% during the first quarter. Pentwater Capital Management LP now owns 2,340,000 shares of the business services provider’s stock worth $63,554,000 after buying an additional 1,990,000 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Interpublic Group of Companies by 149.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,631,682 shares of the business services provider’s stock valued at $71,476,000 after purchasing an additional 1,574,777 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Interpublic Group of Companies by 1,475.5% in the 1st quarter. Jane Street Group LLC now owns 1,328,121 shares of the business services provider’s stock valued at $36,072,000 after acquiring an additional 1,243,823 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IPG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Interpublic Group of Companies in a research 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 on the stock in a report on Wednesday, July 23rd. Wall Street Zen upgraded shares of Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Barclays dropped 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 note on Wednesday. Finally, Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $32.18.

Interpublic Group of Companies Stock Down 1.5%

IPG opened at $25.07 on Friday. The stock’s 50 day moving average price is $26.30 and its 200 day moving average price is $25.41. The stock has a market cap of $9.18 billion, a P/E ratio of 21.24 and a beta of 1.12. 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 12 month low of $22.51 and a 12 month high of $33.05.

Interpublic Group of Companies (NYSE:IPG) last posted its quarterly earnings data on Monday, November 10th. The business services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, research analysts predict that Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

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.