Interpublic Group of Companies, Inc

In December, the CEO of Initiative, a global advertising agency owned by Interpublic Group, advised clients to boycott advertising on Facebook’s platforms.

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Alphabet’s (GOOGL) Google is one of the world’s largest digital advertising platforms.

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According to a 13F filing, Elliott Management’s largest position reduction was in Interpublic Group of Companies (IPG).

Rivals Facebook (FB) and Twitter (TWTR) have started to become more aggressive to leverage this fast-growing market.

The PowerShares Dynamic Media ETF (PBS) invests 2.8% of its holdings in Interpublic Group.

After its 3Q15 earnings report, Interpublic Group of Companies rose by 1.5% to close at $21.72 per share on October 21, 2015.

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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 3Q14 in Sigma-Aldrich Corp (SIAL). The position accounted for 0.24% of the fund’s 3Q14 portfolio.

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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.”