WPP (NYSE:WPP) Coverage Initiated at Berenberg Bank

Berenberg Bank began coverage on shares of WPP (NYSE:WPP) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set a “buy” rating on the business services provider’s stock.

Several other equities analysts also recently weighed in on WPP. The Goldman Sachs Group started coverage on shares of WPP in a report on Wednesday, June 3rd. They set a “sell” rating for the company. Rothschild & Co Redburn assumed coverage on shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating for the company. Barclays upgraded WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Citigroup reissued a “neutral” rating on shares of WPP in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

WPP Price Performance

WPP stock traded up $1.43 during trading hours on Tuesday, hitting $18.89. The stock had a trading volume of 97,570 shares, compared to its average volume of 574,102. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.48. WPP has a 1-year low of $14.81 and a 1-year high of $38.04. The stock’s fifty day moving average is $17.69 and its two-hundred day moving average is $18.99.

Hedge Funds Weigh In On WPP

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in WPP by 185.0% in the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after buying an additional 814 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of WPP during the 3rd quarter worth about $28,000. SBI Securities Co. Ltd. boosted its position in shares of WPP by 323.9% in the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after acquiring an additional 1,111 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in WPP by 184.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 1,225 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.