The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. The Interpublic Group of Companies Inc. shares valued at $197,242 were sold by HUDSON DAWN E on Mar 15. At $33.15 per share, HUDSON DAWN E sold 5,950 shares. The insider’s holdings dropped to 26,930 shares worth approximately $1.01 million following the completion of this transaction.
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Also, Carter-Miller Jocelyn sold 6,425 shares, netting a total of over 228,088 in proceeds. Following the sale of shares at $35.50 each, the insider now holds 31,789 shares.
Before that, KRAKOWSKY PHILIPPE had sold 71,020 shares from its account. In a trade valued at $2,529,022, the CEO traded The Interpublic Group of Companies Inc. shares for $35.61 each. Upon closing the transaction, the insider’s holdings decreased to 71,020 shares, worth approximately $21.89 million.
Analyzing IPG Stock Performance
On Thursday, The Interpublic Group of Companies Inc. [NYSE: IPG] plunged -0.32% to $37.49. The stock’s lowest price that day was $37.26, but it reached a high of $37.81 in the same session. During the last five days, there has been a drop of approximately -2.40%. Over the course of the year, The Interpublic Group of Companies Inc. shares have jumped approximately 12.55%. Shares of the company reached a 52-week high of $39.52 on 02/03/23 and a 52-week low of $32.61 on 03/16/23. A 50-day SMA is recorded $36.50, while a 200-day SMA reached $33.11. Nevertheless, trading volume fell to 4.74 million shares from 4.46 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 37.23, which, if violated, would cause prices to drop to 36.97. In the upper region, resistance lies at 37.78. The next price resistance is at 38.07. RSI (Relative Strength Index) is 54.54 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.75, which suggests the price will decrease in the coming days. Percent R is at 45.17%, 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 rise in short interest on May 14, 2023 jumping by 3.39 million shares to 14.94 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 11.55 million shares. A jump of 22.69% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.8 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.8.
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 45,278,683 shares, which is about 11.76% of the total IPG shares outstanding. The investor’s shares have plunged by -180,566 from its previous 13-F filing of 45459249.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $987,832,491. SSgA Funds Management, Inc. reduced a -1.08% interest valued at $744.12 million while Harris Associates LP sold a -194,952 stake. A total of -565,121 shares of The Interpublic Group of Companies Inc. were sold by Black Creek Investment Management during the quarter, and -3,061,980 were sold by Fidelity Management & Research Co. In its current portfolio, Charles Schwab Investment Managem holds 8,800,691 shares valued at $314.45 million.
In terms of The Interpublic Group of Companies Inc. share price expectations, FactSet research, analysts set an average price target of $40.45 in the next 12 months, up nearly 6.35% from the previous closing price of $37.61. Analysts anticipate The Interpublic Group of Companies Inc. stock to reach $45.00 by 2023, with the lowest price target being $37.00. In spite of this, 15 analysts ranked The Interpublic Group of Companies Inc. stock as an Overweight at the end of 2023.