5 Best Adtech Stocks To Buy According To Hedge Funds

4. The Interpublic Group of Companies, Inc. (NYSE:IPG)

Number of Hedge Fund Holders: 30

The Interpublic Group of Companies, Inc. (NYSE:IPG) is a New York-based provider of advertising and marketing services worldwide. It operates in two segments, Integrated Agency Networks (IAN) and IPG DXTRA. The Interpublic Group of Companies, Inc. (NYSE:IPG) is one of the best adtech stocks to buy according to hedge funds. The company paid a $0.29 per share quarterly dividend to shareholders on December 15. 

On October 14, JPMorgan analyst David Karnovsky said he sees attractive risk/reward profiles on the advertising agencies heading into the Q3 results and reiterated an Overweight rating on The Interpublic Group of Companies, Inc. (NYSE:IPG) with a price target of $38. 

According to Insider Monkey’s third quarter database, 30 hedge funds were bullish on The Interpublic Group of Companies, Inc. (NYSE:IPG), with combined stakes worth $595 million, compared to 30 funds in the prior quarter worth $566 million. Harris Associates is the leading stakeholder of the company, with 14.1 million shares worth $361.2 million. 

Here is what Ariel Fund & Ariel Appreciation Fund has to say about The Interpublic Group of Companies, Inc. (NYSE:IPG) in its Q3 2021 investor letter:

“Marketing communication company, Interpublic Group of Companies, Inc. (IPG) was the top contributor over the trailing one-year period. Notably, IPG is delivering a stronger than expected revenue mix between Technology and Healthcare relative to its peer group, solid cost containment and margin expansion. Meanwhile, the company continued to focus on de-levering the balance sheet. In our view, IPG’s Acxiom acquisition for data has proven to be a winner, helping the company increase their revenue across all eight major advertising sectors by industry. We believe these results continue to demonstrate the strength and resiliency of the business model and expect IPG to be a beneficiary of increasing advertising and marketing budgets across an improving global economy.”