WPP (NYSE:WPP) Coverage Initiated at Rothschild & Co Redburn

Investment analysts at Rothschild & Co Redburn initiated coverage on shares of WPP (NYSE:WPP) in a research note issued to investors on Thursday. The firm set a “buy” rating on the business services provider’s stock.

Several other brokerages have also commented on WPP. Wall Street Zen raised WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup reissued a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Finally, Barclays raised WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

WPP Price Performance

Shares of WPP opened at $18.66 on Thursday. 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 has a 12 month low of $14.81 and a 12 month high of $40.66. The stock’s 50 day moving average is $17.21 and its two-hundred day moving average is $19.05.

Institutional Trading of WPP

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in WPP in the third quarter valued at $28,000. GAMMA Investing LLC raised its position in WPP by 185.0% in the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 814 shares during the period. Osaic Holdings Inc. raised 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 purchasing an additional 717 shares during the period. SBI Securities Co. Ltd. raised its position in WPP by 323.9% in the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,111 shares during the period. Finally, Global Retirement Partners LLC raised its position in 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 valued at $41,000 after purchasing an additional 1,689 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.

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.