WPP (NYSE:WPP) Cut to “Sell” at Wall Street Zen

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

Other research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Citigroup initiated coverage on WPP in a research note on Monday, January 12th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

WPP Trading Up 5.4%

Shares of WPP stock opened at $18.45 on Friday. The stock has a 50 day moving average price of $21.35 and a 200-day moving average price of $23.11. WPP has a one year low of $17.25 and a one year high of $49.12.

Institutional Investors Weigh In On WPP

A number of large investors have recently bought and sold shares of the stock. Mondrian Investment Partners LTD acquired a new position in shares of WPP in the third quarter worth $79,947,000. ABC Arbitrage SA purchased a new stake in WPP during the fourth quarter valued at about $5,199,000. Dimensional Fund Advisors LP increased its position in WPP by 12.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock worth $21,555,000 after purchasing an additional 94,162 shares in the last quarter. Creative Planning lifted its holdings in shares of WPP by 222.4% during the 3rd quarter. Creative Planning now owns 105,070 shares of the business services provider’s stock valued at $2,632,000 after acquiring an additional 72,476 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its position in shares of WPP by 12.2% in the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock worth $21,930,000 after buying an additional 68,271 shares during the period. 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.