Shares of Wpp Plc (NYSE:WPP – Get Free Report) shot up 7.3% during mid-day trading on Tuesday . The company traded as high as $20.91 and last traded at $20.9750. 237,631 shares traded hands during trading, a decline of 58% from the average session volume of 561,976 shares. The stock had previously closed at $19.54.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on WPP shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Berenberg Bank initiated coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating for the company. Citigroup reiterated a “neutral” rating on shares of WPP in a research report on Thursday, April 30th. The Goldman Sachs Group assumed coverage on shares of WPP in a research note on Wednesday, June 3rd. They set a “sell” rating for the company. Finally, Rothschild & Co Redburn started coverage on WPP in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Get Our Latest Stock Report on WPP
WPP Price Performance
Hedge Funds Weigh In On WPP
Several institutional investors and hedge funds have recently modified their holdings of WPP. Range Financial Group LLC acquired a new position in WPP in the 1st quarter valued at $1,147,000. M&T Bank Corp boosted its holdings in shares of WPP by 344.9% during the fourth quarter. M&T Bank Corp now owns 52,491 shares of the business services provider’s stock worth $1,179,000 after purchasing an additional 40,693 shares during the last quarter. Mondrian Investment Partners LTD grew its position in shares of WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock valued at $72,775,000 after purchasing an additional 48,714 shares during the period. ABC Arbitrage SA acquired a new position in WPP in the fourth quarter valued at $5,199,000. Finally, Barometer Capital Management Inc. purchased a new position in WPP during the first quarter worth about $535,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.
About WPP
WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.
Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.
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