Range Financial Group LLC Takes Position in Wpp Plc $WPP

Range Financial Group LLC bought a new stake in Wpp Plc (NYSE:WPP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 73,775 shares of the business services provider’s stock, valued at approximately $1,147,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its position in WPP by 49.0% during the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock worth $2,523,000 after acquiring an additional 21,866 shares during the period. Cetera Investment Advisers increased its holdings in WPP by 9.2% in the 2nd 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 period. JPMorgan Chase & Co. increased its holdings in WPP by 58.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,397 shares of the business services provider’s stock worth $224,000 after buying an additional 2,355 shares during the period. Russell Investments Group Ltd. raised its position 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 worth $82,000 after buying an additional 1,173 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in WPP during the 2nd quarter valued at approximately $407,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WPP shares. The Goldman Sachs Group initiated coverage on shares of WPP in a report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Rothschild & Co Redburn initiated coverage on shares of WPP in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Berenberg Bank began coverage on WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Finally, Citigroup reiterated a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, WPP has an average rating of “Hold”.

WPP Stock Up 1.1%

WPP stock opened at $17.34 on Friday. Wpp Plc has a 52-week low of $14.81 and a 52-week high of $29.71. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50-day simple moving average is $17.92 and its 200-day simple moving average is $18.50.

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.