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. Interpublic Group Of Cos., Inc. shares valued at $4,842,977 were sold by KRAKOWSKY PHILIPPE on Feb 27 ’24. At $32.20 per share, KRAKOWSKY PHILIPPE sold 150,403 shares. The insider’s holdings dropped to 415,776 shares worth approximately $13.62 million following the completion of this transaction.
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Also, Bonzani Andrew sold 40,468 shares, netting a total of over 1,303,070 in proceeds. Following the sale of shares at $32.20 each, the insider now holds 70,431 shares.
Before that, Johnson Ellen Tobi had sold 40,393 shares from its account. In a trade valued at $1,300,655, the CFO traded Interpublic Group Of Cos., Inc. shares for $32.20 each. Upon closing the transaction, the insider’s holdings decreased to 40,393 shares, worth approximately $2.9 million.
As published in their initiating research note from UBS on January 11, 2024, Interpublic Group Of Cos., Inc. [IPG] has been a Neutral and the price target has been revised to $36. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late July. As of March 30, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for IPG. Earlier on March 29, 2023, Exane BNP Paribas downgraded its rating. Their new recommendation was “a Neutral” for IPG stock which previously was a “an Outperform”.
Analyzing IPG Stock Performance
During the last five days, there has been a drop of approximately -0.12%. Over the course of the year, Interpublic Group Of Cos., Inc. shares have jumped approximately 0.40%. Shares of the company reached a 52-week high of $35.17 on 03/14/24 and a 52-week low of $30.60 on 02/09/24. A 50-day SMA is recorded $32.36, while a 200-day SMA reached $32.46. Nevertheless, trading volume fell to 3.51 million shares from 2.85 million shares the previous day.
Support And Resistance Levels for Interpublic Group Of Cos., Inc. (IPG)
According to the 24-hour chart, there is a support level at 32.32, which, if violated, would cause prices to drop to 31.86. In the upper region, resistance lies at 33.05. The next price resistance is at 33.32. RSI (Relative Strength Index) is 53.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 71.96%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Interpublic Group Of Cos., Inc. subject to short interest?
Stocks of Interpublic Group Of Cos., Inc. saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.49 million shares to 15.27 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 14.78 million shares. A jump of 3.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.71 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.71.
