In December, the CEO of Initiative, a global advertising agency owned by Interpublic Group, advised clients to boycott advertising on Facebook’s platforms.
In the cloud computing industry, Google is behind market leaders Amazon (AMZN) and Microsoft (MSFT) and it is trying many strategies to bolster its position.
GAMCO adds TRW position During the third quarter, GAMCO Investors started a new position in TRW Automotive Holdings Corp. (TRW). The position accounted for 0.63% of the fund’s 3Q14 portfolio. TRW Automotive Holdings overview TRW Automotive Holdings supplies vehicular systems, modules, and components to original equipment manufacturers and related aftermarkets globally. The firm mainly designs, manufactures, and […]
GAMCO Investors took a large new position in Weatherford International (WFT) during the third quarter. The position accounted for 1.21% of the fund’s 3Q14 portfolio.
Mario Gabelli’s GAMCO Investors upped its position in Chemtura Corporation (CHMT) during 3Q14. Recently, a 13D amended filing raised the position further.
GAMCO Investors increased its position in the Interpublic Group of Companies Inc. (IPG) during third quarter. The position accounted for 0.56% of the fund’s 3Q14 portfolio.
Mario Gabelli’s GAMCO Investors added to its position in Sony Corp. ADR (SNE) during the third quarter. The position accounted for 0.52% of the fund’s 3Q14 portfolio.
Mario Gabelli’s GAMCO Investors began a new position in Bally Technologies Inc. (BYI) during the third quarter. The position accounted for 0.11% of the fund’s 3Q14 portfolio.
During 3Q14, GAMCO Investors started a new position in Concur Technologies Inc. (CNQR). The position accounted for 0.35% of the fund’s third-quarter portfolio.
GAMCO Investors started a new position in Liberty Media Corporation Class C (LMCK) during 3Q14. The position accounted for 0.36% of the fund’s third-quarter portfolio.
IPG has a lower dividend yield compared to WPP and Omnicom, which raised its quarterly dividend in May by 25% to $0.50 per share—IPG also raised its dividend earlier this year by 27% to $0.095 per share quarterly or $0.38 annually.
According to news reports, IPG was rumored to be an attractive takeover candidate for its peers, especially the Japanese media network Dentsu (DNTUY), France-based Havas (HAVSF), or larger peer Publicis (PUBGY).
The company said its “financial goals include competitive organic revenue growth and operating margin expansion, which we expect will further strengthen our balance sheet and total liquidity and increase value to our shareholders.”
Interpublic Group’s (IPG) companies specialize in consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines.
A 13D filing said that Elliott believes IPG is undervalued and represents an attractive investment opportunity. The fund said it “seeks to engage in a constructive dialogue” with the board “regarding steps to maximize shareholder value.”
