Brighton Jones LLC Invests $324,000 in Wpp Plc (WPP) Stock
Brighton Jones LLC purchased a new stake in shares of Wpp Plc (NYSE:WPP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,416 shares of the business services provider’s stock, valued at approximately $324,000.
Other hedge funds have also made changes to their positions in the company. Aperio Group LLC acquired a new position in shares of WPP during the third quarter worth $9,023,000. Grandfield & Dodd LLC acquired a new position in shares of WPP during the third quarter worth $12,838,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of WPP during the third quarter worth $291,000. Manning & Napier Group LLC acquired a new position in shares of WPP during the second quarter worth $1,274,000. Finally, Howe & Rusling Inc. acquired a new position in shares of WPP during the third quarter worth $1,172,000. 5.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:WPP opened at $55.39 on Wednesday. The firm has a market capitalization of $14.08 billion, a P/E ratio of 7.14, a P/E/G ratio of 7.06 and a beta of 1.30. Wpp Plc has a 12-month low of $54.31 and a 12-month high of $103.53.
WPP has been the topic of a number of recent research reports. ValuEngine raised shares of WPP from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 23rd. Zacks Investment Research cut shares of WPP from a “buy” rating to a “sell” rating in a research report on Friday, September 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of WPP in a research report on Monday, July 23rd. Pivotal Research raised shares of WPP from a “hold” rating to a “buy” rating in a research report on Thursday, October 25th. Finally, Kepler Capital Markets reissued a “hold” rating on shares of WPP in a research report on Friday, October 26th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $107.00.
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WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
Further Reading: Average Daily Trade Volume – What You Need to Know
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