Jacobi Capital Management LLC Purchases New Position in Wpp Plc (WPP)
Jacobi Capital Management LLC purchased a new position in shares of Wpp Plc (NYSE:WPP) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,500 shares of the business services provider’s stock, valued at approximately $183,000.
Several other hedge funds also recently modified their holdings of WPP. Tower Research Capital LLC TRC purchased a new stake in shares of WPP during the 3rd quarter worth approximately $110,000. Riverhead Capital Management LLC purchased a new stake in shares of WPP during the 3rd quarter worth approximately $176,000. Hall Laurie J Trustee purchased a new stake in shares of WPP during the 3rd quarter worth approximately $182,000. Comerica Securities Inc. purchased a new stake in shares of WPP during the 3rd quarter worth approximately $205,000. Finally, Estabrook Capital Management purchased a new stake in shares of WPP during the 3rd quarter worth approximately $220,000. Institutional investors own 4.64% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Kepler Capital Markets restated a “hold” rating on shares of WPP in a research note on Friday, October 26th. Pivotal Research upgraded shares of WPP from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th. Zacks Investment Research downgraded shares of WPP from a “buy” rating to a “sell” rating in a report on Friday, September 7th. Finally, ValuEngine raised shares of WPP from a “strong sell” rating to a “sell” rating in a report on Thursday, August 23rd. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. WPP currently has an average rating of “Hold” and a consensus price target 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.
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