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 $195,000 were sold by Carter-Miller Jocelyn on Aug 19. At $30.00 per share, Carter-Miller Jocelyn sold 6,500 shares. The insider’s holdings dropped to 38,214 shares worth approximately $1.0 million following the completion of this transaction.
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Also, HUDSON DAWN E sold 18,376 shares, netting a total of over 596,301 in proceeds. Following the sale of shares at $32.45 each, the insider now holds 32,880 shares.
Before that, GUILFOILE MARY had sold 6,301 shares from its account. In a trade valued at $204,215, the Director traded The Interpublic Group of Companies Inc. shares for $32.41 each. Upon closing the transaction, the insider’s holdings decreased to 6,301 shares, worth approximately $2.7 million.
Analysts at Exane BNP Paribas started covering the stock with ‘”an Outperform”‘ outlook in a report released in late August. As of July 08, 2022, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for IPG. Earlier on June 23, 2022, Macquarie downgraded its rating. Their new recommendation was “a Neutral” for IPG stock which previously was a “an Outperform”.
Analyzing IPG’s Price Performance
On Thursday, The Interpublic Group of Companies Inc. [NYSE: IPG] plunged -1.17% to $26.26. The stock’s lowest price that day was $26.25, but it reached a high of $26.79 in the same session. During the last five days, there has been a drop of approximately -5.61%. Over the course of the year, The Interpublic Group of Companies Inc. shares have dropped approximately -29.88%. Shares of the company reached a 52-week high of $39.98 on 02/09/22 and a 52-week low of $26.25 on 09/22/22. A 50-day SMA is recorded $28.78, while a 200-day SMA reached $32.63. Nevertheless, trading volume fell to 2.74 million shares from 2.4 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 26.08, which, if violated, would cause prices to drop to 25.89. In the upper region, resistance lies at 26.62. The next price resistance is at 26.97. RSI (Relative Strength Index) is 35.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.95, which suggests the price will decrease in the coming days. Percent R is at 99.67%, indicating bearish price movement. Stochastics %K at buying 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 47,291,070 shares, which is about 12.09% of the total IPG shares outstanding. The investor’s shares have appreciated by 1,174,978 from its previous 13-F filing of 46116092.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $793,699,930. SSgA Funds Management, Inc. reduced a -3.42% interest valued at $577.85 million while Harris Associates LP purchased a 1,331,295 stake. A total of -7,455,056 shares of The Interpublic Group of Companies Inc. were bought by Fidelity Management & Research Co during the quarter, and 240,921 were bought by Black Creek Investment Management. In its current portfolio, Geode Capital Management LLC holds 8,243,240 shares valued at $227.84 million.
In terms of The Interpublic Group of Companies Inc. share price expectations, FactSet research, analysts set an average price target of $34.25 in the next 12 months, up nearly 31.73% from the previous closing price of $26.57. Analysts anticipate The Interpublic Group of Companies Inc. stock to reach $43.00 by 2022, with the lowest price target being $22.00. In spite of this, 14 analysts ranked The Interpublic Group of Companies Inc. stock as an Overweight at the end of 2022. On March 21, 2022, Argus assigned a price target of “a Buy” to the stock and upgraded coverage with a $41.