WPP (NYSE:WPP) Coverage Initiated by Analysts at Berenberg Bank

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

A number of other research firms also recently issued reports on WPP. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Rothschild & Co Redburn started coverage on shares of WPP in a research report on Thursday, May 28th. They set a “buy” rating on the stock. Citigroup reissued a “neutral” rating on shares of WPP in a research report on Thursday, April 30th. The Goldman Sachs Group initiated coverage on shares of WPP in a research note on Wednesday, June 3rd. They issued a “sell” rating on the stock. Finally, Barclays raised shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

WPP Stock Up 8.2%

NYSE:WPP traded up $1.43 on Tuesday, hitting $18.89. 97,570 shares of the stock were exchanged, compared to its average volume of 574,102. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average of $17.69 and a 200-day moving average of $18.99. WPP has a fifty-two week low of $14.81 and a fifty-two week high of $38.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC raised its position in shares of WPP by 49.0% in the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock valued at $2,523,000 after purchasing an additional 21,866 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of WPP by 9.2% in the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after buying an additional 654 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in WPP by 58.3% in the second quarter. JPMorgan Chase & Co. now owns 6,397 shares of the business services provider’s stock valued at $224,000 after acquiring an additional 2,355 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in WPP by 99.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in WPP during the 2nd quarter worth $407,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

About WPP

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.