Wpp Plc (NYSE:WPP) Receives Consensus Rating of “Reduce” from Analysts

Shares of Wpp Plc (NYSE:WPP) have earned a consensus recommendation of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company.

WPP has been the topic of a number of recent analyst reports. Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. Wall Street Zen cut shares of WPP from a “hold” rating to a “sell” rating in a report on Sunday, January 18th. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a report on Wednesday.

WPP Stock Up 0.8%

Shares of NYSE:WPP opened at $22.02 on Monday. The stock’s 50-day moving average price is $21.37 and its 200-day moving average price is $23.67. WPP has a 12-month low of $17.47 and a 12-month high of $49.12.

Institutional Trading of WPP

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in shares of WPP by 49.0% during the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock worth $2,523,000 after acquiring an additional 21,866 shares during the period. QRG Capital Management Inc. bought a new stake in shares of WPP during the second quarter valued at approximately $378,000. Abel Hall LLC purchased a new stake in WPP in the second quarter worth $413,000. US Bancorp DE raised its holdings 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 in the last quarter. Finally, Blue Trust Inc. lifted its position 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 during the period. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

WPP Company Profile

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.