Cubist Systematic Strategies LLC Makes New $422,000 Investment in The Interpublic Group of Companies, Inc. (NYSE:IPG)

Cubist Systematic Strategies LLC bought a new position in shares of The Interpublic Group of Companies, Inc. (NYSE:IPG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,069 shares of the business services provider's stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP grew 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 in the last quarter. OFI Invest Asset Management acquired a new position in Interpublic Group of Companies during the 4th quarter worth $36,000. GeoWealth Management LLC boosted its position in shares of Interpublic Group of Companies by 20.7% during the 4th quarter. GeoWealth Management LLC now owns 3,341 shares of the business services provider's stock worth $94,000 after acquiring an additional 573 shares in the last quarter. Parvin Asset Management LLC acquired a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $102,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in shares of Interpublic Group of Companies during the 4th quarter worth about $141,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Interpublic Group of Companies news, CFO Ellen Tobi Johnson sold 21,427 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $574,672.14. Following the completion of the sale, the chief financial officer now directly owns 143,373 shares of the company's stock, valued at approximately $3,845,263.86. This trade represents a 13.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Interpublic Group of Companies Stock Performance

Shares of NYSE IPG traded down $0.17 during trading hours on Thursday, reaching $24.12. The stock had a trading volume of 758,787 shares, compared to its average volume of 5,168,959. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 13.16 and a beta of 1.09. 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 Interpublic Group of Companies, Inc. has a fifty-two week low of $22.51 and a fifty-two week high of $33.05. The firm has a 50-day moving average of $25.08 and a 200-day moving average of $27.25.

Interpublic Group of Companies (NYSE:IPG - Get Free Report) last announced its earnings results on Thursday, April 24th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. Interpublic Group of Companies had a return on equity of 27.10% and a net margin of 6.45%. The firm had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.98 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business's revenue was down 6.9% on a year-over-year basis. Equities research analysts predict that The Interpublic Group of Companies, Inc. will post 2.66 earnings per share for the current year.

Interpublic Group of Companies announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on IPG. JPMorgan Chase & Co. raised Interpublic Group of Companies from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $32.00 to $39.00 in a research report on Monday, January 27th. UBS Group raised Interpublic Group of Companies from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, February 13th. Barclays lowered their price objective on Interpublic Group of Companies from $36.00 to $34.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Argus cut Interpublic Group of Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Citigroup reaffirmed a "buy" rating and set a $35.00 price objective on shares of Interpublic Group of Companies in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.