Boothbay Fund Management LLC Raises Stock Holdings in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Boothbay Fund Management LLC grew its position in The Interpublic Group of Companies, Inc. (NYSE:IPG) by 179.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,195 shares of the business services provider’s stock after acquiring an additional 17,451 shares during the quarter. Boothbay Fund Management LLC’s holdings in Interpublic Group of Companies were worth $762,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its stake in Interpublic Group of Companies by 75.8% during the 4th quarter. Allworth Financial LP now owns 1,113 shares of the business services provider’s stock worth $31,000 after purchasing an additional 480 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Interpublic Group of Companies during the fourth quarter worth about $36,000. GeoWealth Management LLC boosted its stake in shares of Interpublic Group of Companies by 20.7% during the fourth quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider’s stock worth $94,000 after buying an additional 573 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Interpublic Group of Companies during the third quarter worth about $107,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Interpublic Group of Companies in the 4th quarter valued at about $141,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of Interpublic Group of Companies stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the transaction, the chief financial officer now owns 143,373 shares in the company, valued at approximately $3,845,263.86. The trade was a 13.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.

Interpublic Group of Companies Trading Up 0.7 %

Shares of IPG opened at $25.01 on Wednesday. The firm’s 50-day moving average is $25.72 and its two-hundred day moving average is $27.83. The Interpublic Group of Companies, Inc. has a twelve month low of $22.51 and a twelve month high of $33.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $9.32 billion, a P/E ratio of 13.67 and a beta of 1.01.

Interpublic Group of Companies (NYSE:IPG) last released its quarterly earnings data on Thursday, April 24th. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.98 billion. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. Interpublic Group of Companies’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. On average, research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current fiscal year.

Interpublic Group of Companies declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $155.00 million in shares. This buyback authorization authorizes the business services provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Interpublic Group of Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Monday, March 3rd. Interpublic Group of Companies’s dividend payout ratio (DPR) is presently 100.76%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IPG. Argus downgraded Interpublic Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. UBS Group raised Interpublic Group of Companies from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $27.00 in a report on Thursday, February 13th. StockNews.com assumed coverage on shares of Interpublic Group of Companies in a research note on Saturday. They issued a “hold” rating on the stock. Barclays reduced their target price on shares of Interpublic Group of Companies from $36.00 to $34.00 and set an “overweight” rating for the company in a research note on Friday, April 25th. Finally, Citigroup reiterated a “buy” rating and set a $35.00 price target on shares of Interpublic Group of Companies in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.44.

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.