Act Ii Management Lp Lowers stake in Interpublic Group of Companies Inc (IPG)

Interpublic Group of Companies Inc (IPG) : Act Ii Management Lp reduced its stake in Interpublic Group of Companies Inc by 14.92% during the most recent quarter end. The investment management company now holds a total of 570,262 shares of Interpublic Group of Companies Inc which is valued at $13,230,078 after selling 99,990 shares in Interpublic Group of Companies Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Interpublic Group of Companies Inc makes up approximately 9.80% of Act Ii Management Lp’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. sold out all of its stake in IPG during the most recent quarter. The investment firm sold 12,300 shares of IPG which is valued $285,360.Proshare Advisors reduced its stake in IPG by selling 4,352 shares or 7.78% in the most recent quarter. The Hedge Fund company now holds 51,571 shares of IPG which is valued at $1,196,447. Interpublic Group of Companies Inc makes up approx 0.01% of Proshare Advisors’s portfolio. Bayesian Capital Management Lp added IPG to its portfolio by purchasing 18,300 company shares during the most recent quarter which is valued at $424,560. Interpublic Group of Companies Inc makes up approx 0.24% of Bayesian Capital Management Lp’s portfolio. Gargoyle Investment Advisor L.l.c. sold out all of its stake in IPG during the most recent quarter. The investment firm sold 45,197 shares of IPG which is valued $1,043,599.

Interpublic Group of Companies Inc closed down -0.17 points or -0.73% at $22.97 with 25,58,839 shares getting traded on Thursday. Post opening the session at $23.17, the shares hit an intraday low of $22.885 and an intraday high of $23.34 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Interpublic Group of Companies Inc reported $0.33 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $0.33. The company had revenue of $1917.90 million for the quarter, compared to analysts expectations of $1934.16 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

The Interpublic Group of Companies Inc. (IPG) is a global advertising and marketing services company. The Company operates through two segments: Integrated Agency Networks (IAN) and Constituency Management Group (CMG). IAN includes McCann Worldgroup Foote Cone & Belding Lowe and Partners IPG Mediabrands its digital specialist agencies and its domestic integrated agencies. IAN’s domestic integrated agencies including Hill Holliday Carmichael Lynch Dailey Tierney and Mullen provide a range of advertising marketing communications services and/or marketing services. CMG which includes Weber Shandwick Cassidy DeVries Golin FutureBrand Jack Morton and Octagon Worldwide provides diversified services including public relations meeting and event production sports and entertainment marketing corporate and brand identity and strategic marketing consulting.

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