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

WPP (NYSE:WPP) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Barclays raised shares of WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th. Finally, Citigroup began coverage on WPP in a research note on Monday, January 12th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

WPP Trading Down 0.5%

NYSE WPP opened at $15.64 on Friday. The business’s fifty day moving average is $19.56 and its 200-day moving average is $21.63. WPP has a one year low of $15.57 and a one year high of $41.01.

Hedge Funds Weigh In On WPP

Large investors have recently modified their holdings of the business. Jane Street Group LLC raised its position in shares of WPP by 49.0% in the first quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock valued at $2,523,000 after purchasing an additional 21,866 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in WPP by 95.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,567 shares of the business services provider’s stock valued at $1,105,000 after buying an additional 15,453 shares in the last quarter. SG Americas Securities LLC grew its stake in WPP by 45.7% in the 2nd quarter. SG Americas Securities LLC now owns 6,061 shares of the business services provider’s stock valued at $212,000 after buying an additional 1,901 shares in the last quarter. Creative Planning raised its holdings in WPP by 83.3% during the 2nd quarter. Creative Planning now owns 32,594 shares of the business services provider’s stock valued at $1,141,000 after acquiring an additional 14,816 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of WPP by 9.2% during the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after acquiring an additional 654 shares in the last quarter. Hedge funds and other institutional investors 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.