Insider Selling: HUDSON DAWN E, The Interpublic Group of Companies Inc. [IPG] Director divested 18,376 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Interpublic Group of Companies Inc. shares valued at $596,301 were sold by HUDSON DAWN E on May 09. At $32.45 per share, HUDSON DAWN E sold 18,376 shares. The insider’s holdings dropped to 32,880 shares worth approximately $0.97 million following the completion of this transaction.


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Also, GUILFOILE MARY sold 6,301 shares, netting a total of over 204,215 in proceeds. Following the sale of shares at $32.41 each, the insider now holds 102,803 shares.

Before that, Carter-Miller Jocelyn had added 6,764 shares to its account. In a trade valued at $224,971, the Director bought The Interpublic Group of Companies Inc. shares for $33.26 each. Upon closing the transaction, the insider’s holdings increased to 6,764 shares, worth approximately $1.32 million.

As published in a research note from Wells Fargo on July 08, 2022, The Interpublic Group of Companies Inc. [IPG] has been rated up from an Equal weight to an Overweight and the price target has been revised to $33 from $40. This represents a 10.39% premium over Thursday’s closing price. Analysts at Macquarie downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late June. As of March 21, 2022, Argus has increased its “Hold” rating to a “Buy” for IPG. Earlier on March 14, 2022, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for IPG stock which previously was a “an Overweight”.

Analyzing IPG’s Price Performance

On Thursday, The Interpublic Group of Companies Inc. [NYSE: IPG] plunged -1.50% to $29.57. The stock’s lowest price that day was $29.48, but it reached a high of $30.14 in the same session. During the last five days, there has been a drop of approximately -0.90%. Over the course of the year, The Interpublic Group of Companies Inc. shares have dropped approximately -21.04%. Shares of the company reached a 52-week high of $39.98 on 02/09/22 and a 52-week low of $26.36 on 07/05/22. A 50-day SMA is recorded $29.05, while a 200-day SMA reached $33.84. Nevertheless, trading volume fell to 2.73 million shares from 2.78 million shares the previous day.

Support And Resistance Levels for The Interpublic Group of Companies Inc. (IPG)

According to the 24-hour chart, there is a support level at 29.32, which, if violated, would cause prices to drop to 29.07. In the upper region, resistance lies at 29.98. The next price resistance is at 30.39. RSI (Relative Strength Index) is 53.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.16, which suggests the price will decrease in the coming days. Percent R is at 40.96%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is The Interpublic Group of Companies Inc. subject to short interest?

Stocks of The Interpublic Group of Companies Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.24 million shares to 12.65 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.89 million shares. A decline of -9.8% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.28 of the overall float, the days-to-cover ratio (short ratio) decline to 3.28.

Which companies own the most shares of The Interpublic Group of Companies Inc. (IPG)?

According to The Vanguard Group, Inc. filings, the company currently owns 46,116,092 shares, which is about 11.72% of the total IPG shares outstanding. The investor’s shares have appreciated by 1,113,048 from its previous 13-F filing of 45003044.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $793,772,490. Fidelity Management & Research Co reduced a -11.26% interest valued at $598.79 million while SSgA Funds Management, Inc. sold a -129,872 stake. A total of 1,469,442 shares of The Interpublic Group of Companies Inc. were sold by Black Creek Investment Management during the quarter, and 775,224 were bought by Harris Associates LP. In its current portfolio, Geode Capital Management LLC holds 8,197,461 shares valued at $225.68 million.

In terms of The Interpublic Group of Companies Inc. share price expectations, FactSet research, analysts set an average price target of $34.27 in the next 12 months, up nearly 16.59% from the previous closing price of $30.02. Analysts anticipate The Interpublic Group of Companies Inc. stock to reach $43.00 by 2022, with the lowest price target being $22.00. On January 27, 2022, BofA Securities assigned a price target of “an Underperform” to the stock and downgraded coverage with a $32.

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