Wealth Enhancement Advisory Services LLC acquired a new position in shares of WPP plc (NYSE:WPP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 18,719 shares of the business services provider's stock, valued at approximately $962,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in WPP by 11.9% in the 4th quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider's stock worth $83,472,000 after purchasing an additional 172,212 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of WPP in the fourth quarter worth $2,292,000. Raymond James Financial Inc. purchased a new stake in shares of WPP during the fourth quarter valued at $8,724,000. QRG Capital Management Inc. purchased a new stake in shares of WPP during the fourth quarter valued at $202,000. Finally, Sei Investments Co. increased its position in shares of WPP by 21.0% in the 4th quarter. Sei Investments Co. now owns 20,476 shares of the business services provider's stock valued at $1,053,000 after acquiring an additional 3,551 shares during the period. Hedge funds and other institutional investors own 4.34% of the company's stock.
WPP Trading Up 1.9%
WPP traded up $0.69 during midday trading on Tuesday, hitting $37.37. 690,768 shares of the company were exchanged, compared to its average volume of 302,718. The company's 50 day simple moving average is $37.82 and its 200 day simple moving average is $43.92. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 6.26, a price-to-earnings-growth ratio of 7.06 and a beta of 1.05. WPP plc has a 1-year low of $31.52 and a 1-year high of $57.37.
Analyst Ratings Changes
WPP has been the topic of several research analyst reports. Barclays downgraded WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. Wall Street Zen lowered WPP from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group initiated coverage on shares of WPP in a research report on Wednesday, March 26th. They set a "neutral" rating for the company. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".
View Our Latest Research Report on WPP
WPP Company Profile
(
Free Report)
WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.
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