Wpp Plc (NYSE:WPP) Receives Average Recommendation of “Reduce” from Analysts

Shares of Wpp Plc (NYSE:WPP) have received a consensus recommendation of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company.

WPP has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research note on Wednesday, January 21st. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen cut shares of WPP from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Finally, Citigroup began coverage on WPP in a report on Monday, January 12th. They set a “neutral” rating on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. OLD Mission Capital LLC bought a new stake in shares of WPP during the fourth quarter worth $2,123,000. Balyasny Asset Management L.P. raised its position in WPP by 1,082.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after acquiring an additional 232,878 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in WPP in the 4th quarter valued at about $726,000. Cetera Investment Advisers boosted its stake in shares of WPP by 22.7% during the 4th quarter. Cetera Investment Advisers now owns 15,247 shares of the business services provider’s stock worth $342,000 after acquiring an additional 2,818 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in WPP by 3,840.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 132,680 shares during the period. Institutional investors own 4.34% of the company’s stock.

WPP Trading Up 0.3%

NYSE WPP opened at $18.85 on Friday. WPP has a 12 month low of $17.25 and a 12 month high of $49.05. The company’s 50 day simple moving average is $21.02 and its 200 day simple moving average is $22.44.

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.