Verition Fund Management LLC purchased a new stake in shares of WPP plc (NYSE:WPP – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,194 shares of the business services provider’s stock, valued at approximately $864,000.
Other institutional investors have also recently made changes to their positions in the company. Prospera Financial Services Inc purchased a new stake in shares of WPP during the 1st quarter valued at approximately $29,000. Eaton Vance Management raised its position in WPP by 11.8% in the fourth quarter. Eaton Vance Management now owns 1,994 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 210 shares during the period. EverSource Wealth Advisors LLC raised its position in WPP by 219.9% in the first quarter. EverSource Wealth Advisors LLC now owns 902 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 620 shares during the period. Geneos Wealth Management Inc. raised its position in WPP by 34.6% in the first quarter. Geneos Wealth Management Inc. now owns 977 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 251 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in WPP in the first quarter valued at approximately $115,000. Hedge funds and other institutional investors own 4.01% of the company’s stock.
WPP Price Performance
Shares of NYSE:WPP opened at $43.13 on Thursday. The company has a 50-day simple moving average of $47.88 and a 200-day simple moving average of $50.28. WPP plc has a one year low of $41.60 and a one year high of $83.69. The company has a quick ratio of 0.93, a current ratio of 0.91 and a debt-to-equity ratio of 1.08.
WPP Cuts Dividend
Analysts Set New Price Targets
Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of WPP from GBX 1,330 ($16.07) to GBX 1,260 ($15.22) in a research note on Tuesday, July 19th. ING Group initiated coverage on shares of WPP in a research note on Thursday, September 8th. They set a “buy” rating for the company. They noted that the move was a valuation call. Macquarie downgraded shares of WPP from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 23rd. Morgan Stanley lowered their target price on shares of WPP from GBX 750 ($9.06) to GBX 690 ($8.34) in a research note on Thursday, September 8th. Finally, Redburn Partners reiterated a “neutral” rating on shares of WPP in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $904.29.
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.
- Get a free copy of the StockNews.com research report on WPP (WPP)
- The Worst May be Over for Target, But is the Stock Safe to Buy?
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- Two Fun Stocks The Insiders Are Buying
- Novavax Remains a Risk-On Stock in a Risk-Off Market
- 3 Defensive Stocks With 60-Year Dividend Hike Streaks
Receive News & Ratings for WPP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WPP and related companies with MarketBeat.com's FREE daily email newsletter.