Barometer Capital Management Inc. Buys New Stake in Wpp Plc $WPP

Barometer Capital Management Inc. purchased a new position in Wpp Plc (NYSE:WPP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,400 shares of the business services provider’s stock, valued at approximately $535,000.

Other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP in the 3rd quarter worth approximately $28,000. 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 valued at $28,000 after buying an additional 814 shares in the last quarter. Osaic Holdings Inc. grew its position in WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 717 shares during the period. Global Retirement Partners LLC raised its stake in WPP by 1,279.5% during 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 in the last quarter. Finally, Allworth Financial LP raised its stake in WPP by 38.9% during the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after acquiring an additional 519 shares in the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Trading Down 5.0%

WPP stock opened at $18.24 on Wednesday. The business’s fifty day moving average is $18.00 and its two-hundred day moving average is $18.30. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. Wpp Plc has a 52 week low of $14.81 and a 52 week high of $29.71.

Wall Street Analyst Weigh In

WPP has been the topic of several recent analyst reports. Rothschild & Co Redburn initiated coverage on shares of WPP in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. Berenberg Bank initiated coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating for the company. Citigroup reissued a “neutral” rating on shares of WPP in a report on Thursday, April 30th. The Goldman Sachs Group started coverage on shares of WPP in a research report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, WPP presently has an average rating of “Hold”.

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.