WPP (NYSE:WPP) Upgraded to “Hold” at Zacks Research

WPP (NYSE:WPP) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also commented on WPP. Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, WPP presently has an average rating of “Reduce”.

WPP Trading Up 1.8%

NYSE:WPP opened at $22.95 on Monday. WPP has a 1 year low of $17.47 and a 1 year high of $52.01. The firm’s fifty day simple moving average is $20.75 and its 200 day simple moving average is $25.30.

Hedge Funds Weigh In On WPP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in WPP in the 3rd quarter valued at approximately $28,000. Osaic Holdings Inc. raised its stake in shares of WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 717 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in WPP by 323.9% in the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after purchasing an additional 1,111 shares during the period. Traub Capital Management LLC acquired a new stake in WPP during the second quarter worth $52,000. Finally, Blue Trust Inc. increased its holdings in WPP by 41.9% in the 2nd 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 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.