WPP (NYSE:WPP) Raised to Hold at Wall Street Zen

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

A number of other equities research analysts have also issued reports on WPP. Citigroup began coverage on WPP in a research report on Monday, January 12th. They issued a “neutral” rating on the stock. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

WPP Trading Up 0.8%

NYSE WPP opened at $20.88 on Friday. The stock has a 50-day simple moving average of $21.48 and a 200 day simple moving average of $23.48. WPP has a 12 month low of $17.47 and a 12 month high of $49.12.

Institutional Investors Weigh In On WPP

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mondrian Investment Partners LTD bought a new position in shares of WPP during the third quarter worth approximately $79,947,000. Dimensional Fund Advisors LP grew its position in WPP by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock worth $21,555,000 after buying an additional 94,162 shares in the last quarter. Creative Planning increased its stake in WPP by 222.4% during the 3rd quarter. Creative Planning now owns 105,070 shares of the business services provider’s stock worth $2,632,000 after acquiring an additional 72,476 shares during the period. Brandes Investment Partners LP raised its holdings in WPP by 12.2% in the 2nd quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock valued at $21,930,000 after acquiring an additional 68,271 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of WPP by 0.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock valued at $255,164,000 after acquiring an additional 47,289 shares during the period. 4.34% of the stock is owned by institutional investors.

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.