Gabelli Funds LLC Raises Stake in Interpublic Group of Companies, Inc. (The) $IPG

Gabelli Funds LLC increased its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 23.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,675 shares of the business services provider’s stock after purchasing an additional 50,075 shares during the quarter. Gabelli Funds LLC owned 0.07% of Interpublic Group of Companies worth $6,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its position in 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 buying an additional 585 shares during the period. Brooklyn Investment Group boosted its stake in shares of 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 acquiring an additional 391 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of 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 acquiring an additional 485 shares during the period. Assetmark Inc. increased 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 valued at $75,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new position in Interpublic Group of Companies in the 2nd quarter valued at approximately $75,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IPG. Wall Street Zen raised Interpublic Group of Companies to a “hold” rating in a report on Saturday, August 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Interpublic Group of Companies in a research report on Monday, November 24th. Barclays dropped their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Finally, Zacks Research downgraded shares of Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.82.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG opened at $24.63 on Wednesday. The company has a 50-day simple moving average of $25.72 and a 200-day simple moving average of $25.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12. 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 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.