WPP (NYSE:WPP) Coverage Initiated at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group initiated coverage on shares of WPP (NYSE:WPP) in a research note issued on Wednesday, Marketbeat.com reports. The firm set a “neutral” rating on the business services provider’s stock.

A number of other analysts also recently issued reports on the company. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

WPP Stock Performance

Shares of WPP stock opened at $38.89 on Wednesday. The stock has a 50 day moving average of $44.47 and a 200 day moving average of $49.11. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 7.06 and a beta of 1.20. WPP has a fifty-two week low of $38.86 and a fifty-two week high of $57.37.

Hedge Funds Weigh In On WPP

Several institutional investors have recently modified their holdings of WPP. Assetmark Inc. increased its holdings in WPP by 52,800.0% during the 4th quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after purchasing an additional 528 shares during the period. Smartleaf Asset Management LLC raised its holdings in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after acquiring an additional 966 shares in the last quarter. GAMMA Investing LLC lifted its stake in WPP by 92.4% in the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after acquiring an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in WPP during the 3rd quarter worth approximately $84,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of WPP by 57.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 787 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Company Profile

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.