Brandes Investment Partners LP Has $15.77 Million Holdings in Wpp Plc $WPP

Brandes Investment Partners LP lessened its stake in Wpp Plc (NYSE:WPP) by 7.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 702,057 shares of the business services provider’s stock after selling 57,179 shares during the quarter. Brandes Investment Partners LP’s holdings in WPP were worth $15,768,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP in the third quarter valued at approximately $28,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 814 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of 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 buying an additional 717 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of 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 buying an additional 1,111 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of 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 buying an additional 1,689 shares during the period. Institutional investors and hedge funds own 4.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on WPP. Citigroup reiterated a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Berenberg Bank initiated coverage on shares of WPP in a report on Tuesday. They set a “buy” rating for the company. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th. Rothschild & Co Redburn initiated coverage on shares of WPP in a report on Thursday, May 28th. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

WPP Stock Performance

Shares of WPP opened at $18.36 on Thursday. Wpp Plc has a 12 month low of $14.81 and a 12 month high of $38.04. The firm has a fifty day simple moving average of $17.82 and a 200 day simple moving average of $18.98. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

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.