Y Intercept Hong Kong Ltd Acquires New Position in Interpublic Group of Companies, Inc. (The) $IPG

Y Intercept Hong Kong Ltd bought a new position in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) in the second quarter, Holdings Channel.com reports. The firm bought 21,591 shares of the business services provider’s stock, valued at approximately $529,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IPG. Teacher Retirement System of Texas acquired a new stake in shares of Interpublic Group of Companies in the first quarter worth $1,480,000. Penserra Capital Management LLC raised its stake in shares of Interpublic Group of Companies by 3.8% during the 1st quarter. Penserra Capital Management LLC now owns 15,102 shares of the business services provider’s stock valued at $410,000 after buying an additional 552 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Interpublic Group of Companies by 28.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 184,687 shares of the business services provider’s stock valued at $4,790,000 after buying an additional 41,206 shares during the period. Cerity Partners LLC lifted its holdings in shares of Interpublic Group of Companies by 0.4% in the 1st quarter. Cerity Partners LLC now owns 284,115 shares of the business services provider’s stock valued at $7,717,000 after buying an additional 1,265 shares during the period. Finally, MJP Associates Inc. ADV grew its holdings in Interpublic Group of Companies by 20.5% during the first quarter. MJP Associates Inc. ADV now owns 15,651 shares of the business services provider’s stock worth $425,000 after acquiring an additional 2,661 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Interpublic Group of Companies from $27.50 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of Interpublic Group of Companies from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Weiss Ratings restated a “hold (c)” rating on shares of Interpublic Group of Companies in a research note on Wednesday, October 8th. Wall Street Zen upgraded Interpublic Group of Companies to a “hold” rating in a research report on Saturday, August 16th. Finally, Zacks Research lowered Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Interpublic Group of Companies presently has a consensus rating of “Hold” and an average target price of $32.27.

Interpublic Group of Companies Price Performance

NYSE:IPG opened at $25.03 on Friday. The company has a market capitalization of $9.17 billion, a P/E ratio of 21.21 and a beta of 1.12. Interpublic Group of Companies, Inc. has a 52 week low of $22.51 and a 52 week high of $33.05. The stock’s fifty day moving average is $26.44 and its two-hundred day moving average is $25.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.78.

Interpublic Group of Companies Company 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.