Fir Tree Lowers stake in Interpublic Group of Companies Inc (IPG)

Interpublic Group of Companies Inc (IPG) : Fir Tree reduced its stake in Interpublic Group of Companies Inc by 48.6% during the most recent quarter end. The investment management company now holds a total of 7,047,813 shares of Interpublic Group of Companies Inc which is valued at $163,509,262 after selling 6,664,624 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 5.91% of Fir Tree’s portfolio.

Other Hedge Funds, Including , Brandywine Global Investment Management reduced its stake in IPG by selling 116,764 shares or 40.4% in the most recent quarter. The Hedge Fund company now holds 172,233 shares of IPG which is valued at $3,995,806. Interpublic Group of Companies Inc makes up approx 0.03% of Brandywine Global Investment Management’s portfolio. Oppenheimer Co Inc sold out all of its stake in IPG during the most recent quarter. The investment firm sold 8,755 shares of IPG which is valued $201,628. Proficio Capital Partners added IPG to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $6,918.Acadian Asset Management reduced its stake in IPG by selling 8,234 shares or 32.07% in the most recent quarter. The Hedge Fund company now holds 17,438 shares of IPG which is valued at $422,523.

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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