Goldman Sachs Group Inc. Grows Stock Position in WPP plc (NYSE:WPP)

Goldman Sachs Group Inc. increased its stake in WPP plc (NYSE:WPP) by 40.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,155,648 shares of the business services provider’s stock after buying an additional 332,914 shares during the quarter. Goldman Sachs Group Inc. owned about 0.54% of WPP worth $54,974,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WPP. FMR LLC lifted its holdings in shares of WPP by 7.1% in the 3rd quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock worth $43,365,000 after acquiring an additional 64,087 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of WPP by 47.9% during the fourth quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock valued at $27,003,000 after buying an additional 183,955 shares during the period. Pacer Advisors Inc. bought a new position in shares of WPP during the fourth quarter valued at approximately $7,486,000. Envestnet Asset Management Inc. raised its holdings in shares of WPP by 27.4% in the third quarter. Envestnet Asset Management Inc. now owns 132,379 shares of the business services provider’s stock worth $5,901,000 after buying an additional 28,439 shares during the period. Finally, Optiver Holding B.V. lifted its stake in shares of WPP by 732.7% during the 3rd quarter. Optiver Holding B.V. now owns 119,986 shares of the business services provider’s stock worth $5,349,000 after acquiring an additional 105,577 shares during the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Price Performance

WPP stock opened at $46.96 on Wednesday. The firm has a 50-day moving average of $50.56 and a two-hundred day moving average of $48.30. WPP plc has a 1 year low of $41.13 and a 1 year high of $57.30. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86.

Analysts Set New Price Targets

Separately, StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.00.

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.