Lecap Asset Management Ltd. Decreases Stock Holdings in Interpublic Group of Companies, Inc. (The) $IPG

Lecap Asset Management Ltd. lessened its stake in Interpublic Group of Companies, Inc. (The) (NYSE:IPG) by 27.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 84,632 shares of the business services provider’s stock after selling 32,155 shares during the quarter. Interpublic Group of Companies accounts for 0.8% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 23rd biggest holding. Lecap Asset Management Ltd.’s holdings in Interpublic Group of Companies were worth $2,362,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Private Wealth Asset Management LLC grew its position in shares of Interpublic Group of Companies by 10.9% in the 2nd quarter. Private Wealth Asset Management LLC now owns 4,060 shares of the business services provider’s stock worth $99,000 after buying an additional 400 shares during the last quarter. My Legacy Advisors LLC increased its position in Interpublic Group of Companies by 2.5% during the 2nd quarter. My Legacy Advisors LLC now owns 17,393 shares of the business services provider’s stock valued at $435,000 after buying an additional 431 shares in the last quarter. Lynx Investment Advisory raised its stake in Interpublic Group of Companies by 4.1% in the second quarter. Lynx Investment Advisory now owns 11,429 shares of the business services provider’s stock valued at $280,000 after buying an additional 452 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Interpublic Group of Companies by 0.9% in the second quarter. Yousif Capital Management LLC now owns 51,519 shares of the business services provider’s stock worth $1,261,000 after acquiring an additional 471 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Interpublic Group of Companies by 22.9% during the second 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 last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Interpublic Group of Companies Trading Down 1.7%

Shares of Interpublic Group of Companies stock opened at $24.63 on Thursday. The stock has a market cap of $8.95 billion, a PE ratio of 20.87 and a beta of 1.12. The firm has a fifty day moving average price of $24.85 and a 200 day moving average price of $25.55. Interpublic Group of Companies, Inc. has a 1 year low of $22.51 and a 1 year high of $33.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.07 and a quick ratio of 1.07.

Analyst Upgrades and Downgrades

Several analysts have weighed in on IPG shares. Barclays dropped their target price on shares of Interpublic Group of Companies from $28.00 to $27.50 and set an “equal weight” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Interpublic Group of Companies in a report on Monday, November 24th. Finally, Zacks Research lowered Interpublic Group of Companies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Three investment 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 company currently has an average rating of “Hold” and an average target price of $31.82.

Interpublic Group of Companies Company Profile

Interpublic Group of Companies (NYSE: IPG) is a leading global provider of marketing solutions and communications services. Through its portfolio of agencies and specialized networks, IPG delivers a broad spectrum of services, including advertising, digital marketing, media planning and buying, public relations, branding, and data analytics. Its creative agencies develop integrated campaigns that span television, print, social media, mobile, experiential and other emerging channels, while its media networks leverage proprietary tools and strategic partnerships to optimize audience targeting and performance.

Since its formation in 1961 as one of the first marketing services holding companies, Interpublic has expanded through strategic acquisitions and organic growth to become one of the so-called “Big Four” advertising conglomerates.