Allspring Global Investments Holdings LLC acquired a new position in WPP plc (NYSE:WPP – FREE REPORT ) in the first quarter, according to the latest 13F filing with the Securities and Exchange Commission. The institutional investor purchased 813 shares of the business services provider’s stock worth roughly $39,000.
A number of other institutional investors and hedge funds have also added to or reduced their holdings in WPP recently. Voisard Asset Management Group Inc. acquired a new stake in WPP in the fourth quarter valued at approximately $45,000. CVA Family Office LLC acquired a new stake in WPP in the fourth quarter valued at approximately $49,000. Bruce G. Allen Investments LLC acquired a new stake in WPP in the fourth quarter valued at approximately $111,000. Cetera Trust Company NA acquired a new stake in WPP in the fourth quarter valued at approximately $148,000. Finally, Fifth Third Bancorp increased its holdings in WPP by 70.3% in the fourth quarter. Fifth Third Bancorp now owns 3,286 shares of the business services provider’s stock valued at $156,000 after purchasing an additional 1,357 shares in the last quarter. 4.34% of the stock is owned by institutional investors.
WPP shares up 0.7%
NYSE:WPP’s shares opened trading at $47.60 on Friday. WPP plc’s one year low and high are $41.13 and $57.30. The company’s current ratio is 0.86, quick ratio is 0.86 and debt-to-equity ratio is 0.98. The company’s 50 day simple moving average is $49.76 and its 200 day simple moving average is $48.32.
Analyst upgrades and downgrades
Meanwhile, StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a report on Monday, May 20. One equities research analyst has rated the stock as a sell, while five have rated it as a hold. Based on MarketBeat data, WPP currently has a consensus rating of “hold” and an average target price of $46.00.
Read the latest research report on WPP
WPP Profile
(Free report)
WPP plc, the creative transformation company, provides communications, experience, commerce and technology services across North America, the United Kingdom, Continental Western Europe, 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 Specialized Agencies.
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