WPP (NYSE:WPP) Stock Rating Lowered by Wall Street Zen

WPP (NYSE:WPP) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday.

Several other equities research analysts also recently weighed in on the company. Citigroup began coverage on WPP in a report on Monday, January 12th. They set a “neutral” rating for the company. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

WPP Price Performance

WPP stock opened at $21.21 on Friday. The business has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $24.03. WPP has a twelve month low of $17.47 and a twelve month high of $49.12.

Institutional Investors Weigh In On WPP

A number of hedge funds have recently bought and sold shares of WPP. Jane Street Group LLC lifted its position in shares of WPP by 49.0% during the first quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock worth $2,523,000 after purchasing an additional 21,866 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of WPP during the second quarter worth approximately $378,000. Abel Hall LLC bought a new position in WPP in the 2nd quarter valued at about $413,000. US Bancorp DE lifted its position in WPP by 27.0% in the second quarter. US Bancorp DE now owns 16,735 shares of the business services provider’s stock worth $586,000 after purchasing an additional 3,560 shares during the period. Finally, Blue Trust Inc. boosted its stake in WPP by 41.9% during the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock valued at $70,000 after buying an additional 588 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

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.