Media company stocks have slid as the Dow plunges and shakes. So, where does that leave our dear ol’ ad holding companies today?
The top gainers are Lamar Advertising, Omnicom and WPP. However, WPP needs to make up some serious ground considering that over the past 52 weeks there have been highs of $52. Today, it’s trading at $36. Come on, Marty. Hold that ship steady. MDC Partners is fine and dandy, but the top losers today include Yahoo!, Liberty Media and IPG.
The last insider transaction was in August when Thomas Dowling IPG’s Senior Vice President & Chief Risk Officer recently sold off some of his stock for a cool $121,051.58. Way to get out while the getting was good. Too bad no one else followed the lead of the Chief Risk Officer.
In July, the company out performed analysts expectations. Plus, it’s been rated overweight, which means it was slated to outperform the market. Still with the loss of GM earlier this year and the the shaky history of the holding company not quite forgotten, the stock just may be an unappealing buy.
That said, here’s my inside tip: gird your stomach and buy IPG. Hold on to it. It’ll be at $8 in a few short weeks. Betcha bottom dollar.