Wpp Plc (NYSE:WPP – Get Free Report)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $20.61, but opened at $25.94. WPP shares last traded at $25.5150, with a volume of 515,975 shares.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. Rothschild & Co Redburn began coverage on shares of WPP in a report on Thursday, May 28th. They issued a “buy” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. The Goldman Sachs Group began coverage on shares of WPP in a report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Finally, Berenberg Bank assumed coverage on shares of WPP in a report on Tuesday, June 9th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, WPP presently has a consensus rating of “Hold”.
Read Our Latest Analysis on WPP
WPP Stock Performance
WPP (NYSE:WPP – Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). The firm had revenue of $4.22 billion during the quarter, compared to the consensus estimate of $3.23 billion. On average, sell-side analysts forecast that Wpp Plc will post 3.78 earnings per share for the current fiscal year.
Institutional Trading of WPP
A number of hedge funds have recently made changes to their positions in WPP. Cetera Investment Advisers increased its stake in WPP by 9.2% during the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock valued at $272,000 after acquiring an additional 654 shares during the period. Osaic Holdings Inc. lifted its position in shares of WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after acquiring an additional 717 shares during the period. Ameriprise Financial Inc. lifted its position in shares of WPP by 6.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock worth $343,000 after acquiring an additional 776 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of WPP during the third quarter valued at approximately $28,000. Finally, Legacy Wealth Asset Management LLC increased its position in shares of WPP by 6.4% during the second quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 1,146 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.
WPP Company Profile
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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