Assetmark Inc. Buys 467 Shares of Wpp Plc (NYSE:WPP)

Assetmark Inc. raised its stake in Wpp Plc (NYSE:WPP) by 88.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 996 shares of the business services provider’s stock after purchasing an additional 467 shares during the period. Assetmark Inc.’s holdings in WPP were worth $38,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of WPP by 120.2% in the 1st quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider’s stock valued at $1,763,000 after buying an additional 25,359 shares in the last quarter. Ceera Investments LLC raised its stake in shares of WPP by 77.4% in the 1st quarter. Ceera Investments LLC now owns 28,490 shares of the business services provider’s stock valued at $1,081,000 after buying an additional 12,430 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of WPP by 1.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider’s stock valued at $1,318,000 after buying an additional 498 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of WPP by 15.2% in the 1st quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider’s stock valued at $3,551,000 after buying an additional 12,330 shares in the last quarter. Finally, NBC Securities Inc. raised its stake in shares of WPP by 108,722.2% in the 1st quarter. NBC Securities Inc. now owns 9,794 shares of the business services provider’s stock valued at $371,000 after buying an additional 9,785 shares in the last quarter. 4.34% of the stock is owned by institutional investors.

WPP Stock Down 0.6%

WPP stock opened at $26.62 on Tuesday. The company’s 50 day simple moving average is $33.60 and its 200 day simple moving average is $38.50. Wpp Plc has a fifty-two week low of $26.48 and a fifty-two week high of $57.37. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 4.46 and a beta of 1.01. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a research note on Thursday, July 10th. Barclays reiterated an “underweight” rating on shares of WPP in a research report on Thursday, July 10th. Kepler Capital Markets cut shares of WPP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen cut shares of WPP from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

WPP Company Profile

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.