Barometer Capital Management Inc. Invests $535,000 in Wpp Plc $WPP

Barometer Capital Management Inc. purchased a new stake in shares of Wpp Plc (NYSE:WPP) during the 1st quarter, Holdings Channel.com reports. The fund purchased 34,400 shares of the business services provider’s stock, valued at approximately $535,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WPP. Range Financial Group LLC acquired a new position in WPP during the 1st quarter worth $1,147,000. M&T Bank Corp increased its stake in shares of WPP by 344.9% in the 4th quarter. M&T Bank Corp now owns 52,491 shares of the business services provider’s stock valued at $1,179,000 after buying an additional 40,693 shares during the period. Mondrian Investment Partners LTD raised its position in shares of WPP by 1.5% during the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock worth $72,775,000 after acquiring an additional 48,714 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of WPP during the fourth quarter worth $5,199,000. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of WPP during the fourth quarter valued at $1,123,000. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Stock Performance

WPP stock opened at $18.24 on Wednesday. Wpp Plc has a twelve month low of $14.81 and a twelve month high of $29.71. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. The business’s fifty day moving average is $18.00 and its 200-day moving average is $18.30.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WPP. The Goldman Sachs Group assumed coverage on WPP in a report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Berenberg Bank assumed coverage on WPP in a report on Tuesday, June 9th. They set a “buy” rating for the company. Rothschild & Co Redburn initiated coverage on shares of WPP in a research report on Thursday, May 28th. They set a “buy” rating on the stock. Citigroup reaffirmed a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

WPP Company Profile

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.