WPP (NYSE:WPP) Downgraded to Sell Rating 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 research note issued on Sunday.

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

WPP Price Performance

Shares of WPP stock opened at $21.21 on Friday. WPP has a one year low of $17.47 and a one year high of $49.12. The business has a 50-day simple moving average of $21.16 and a 200-day simple moving average of $24.22.

Institutional Trading of WPP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in WPP in the third quarter worth about $28,000. GAMMA Investing LLC lifted its position in shares of WPP by 185.0% in the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after purchasing an additional 814 shares in the last quarter. Osaic Holdings Inc. grew its position in WPP by 105.8% during the second 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 in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of WPP by 323.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after buying an additional 1,111 shares during the period. Finally, Traub Capital Management LLC acquired a new position in shares of WPP in the second quarter worth $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.