WPP (NYSE:WPP) Downgraded to “Sell” Rating by Wall Street Zen

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

Several other analysts also recently weighed in on WPP. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. Zacks Research downgraded WPP from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, WPP presently has a consensus rating of “Reduce”.

WPP Stock Up 1.1%

WPP opened at $22.41 on Friday. WPP has a twelve month low of $17.47 and a twelve month high of $52.26. The company has a fifty day simple moving average of $20.78 and a 200 day simple moving average of $25.68.

Hedge Funds Weigh In On WPP

A number of hedge funds have recently bought and sold shares of WPP. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP during the third quarter valued at $28,000. SBI Securities Co. Ltd. lifted its position in WPP by 323.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,111 shares during the last quarter. Osaic Holdings Inc. boosted its stake in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 717 shares during the period. Rothschild Investment LLC grew its position in WPP by 47.7% in the 3rd quarter. Rothschild Investment LLC now owns 2,038 shares of the business services provider’s stock worth $51,000 after purchasing an additional 658 shares during the last quarter. Finally, Traub Capital Management LLC acquired a new stake in shares of WPP in the second quarter valued at approximately $52,000. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.