The Interpublic Group of Companies, Inc. (NYSE:IPG) Shares Sold by Horrell Capital Management Inc.

Horrell Capital Management Inc. trimmed its holdings in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG) by 10.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,581 shares of the business services provider’s stock after selling 2,980 shares during the period. Horrell Capital Management Inc.’s holdings in Interpublic Group of Companies were worth $841,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Interpublic Group of Companies by 0.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,006,155 shares of the business services provider’s stock worth $32,831,000 after acquiring an additional 7,326 shares during the last quarter. Norden Group LLC bought a new position in shares of Interpublic Group of Companies in the first quarter valued at $340,000. First Trust Direct Indexing L.P. grew its position in Interpublic Group of Companies by 25.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 18,106 shares of the business services provider’s stock worth $591,000 after purchasing an additional 3,627 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Interpublic Group of Companies by 3.3% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 10,923 shares of the business services provider’s stock valued at $356,000 after acquiring an additional 347 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in Interpublic Group of Companies in the first quarter worth $603,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Interpublic Group of Companies Stock Down 0.3 %

Shares of NYSE:IPG traded down $0.09 during midday trading on Tuesday, reaching $30.15. The company’s stock had a trading volume of 772,944 shares, compared to its average volume of 3,921,039. The firm has a market capitalization of $11.38 billion, a P/E ratio of 10.76, a PEG ratio of 4.97 and a beta of 1.09. The firm has a 50 day moving average of $31.31 and a 200-day moving average of $30.72. The Interpublic Group of Companies, Inc. has a 12-month low of $27.68 and a 12-month high of $35.17. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.75.

Interpublic Group of Companies (NYSE:IPG) last released its earnings results on Tuesday, October 22nd. The business services provider reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Interpublic Group of Companies had a net margin of 7.44% and a return on equity of 27.51%. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm posted $0.70 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts anticipate that The Interpublic Group of Companies, Inc. will post 2.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BNP Paribas cut shares of Interpublic Group of Companies from a “neutral” rating to an “underperform” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of Interpublic Group of Companies from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $33.00 in a research report on Tuesday, October 1st. Bank of America dropped their price objective on shares of Interpublic Group of Companies from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. UBS Group lowered shares of Interpublic Group of Companies from a “neutral” rating to a “sell” rating and decreased their price target for the company from $34.00 to $29.00 in a report on Thursday, September 12th. Finally, Macquarie reissued a “neutral” rating and set a $31.00 target price on shares of Interpublic Group of Companies in a research note on Tuesday, October 22nd. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies has an average rating of “Hold” and an average price target of $30.57.

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.