WPP (NYSE:WPP) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of WPP (NYSE:WPP) from a hold rating to a sell rating in a research report report published on Sunday morning.

Several other research analysts also recently commented on the stock. Citigroup started coverage on shares of WPP in a research note on Monday, January 12th. They issued a “neutral” rating on the stock. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, WPP currently has an average rating of “Reduce”.

WPP Price Performance

Shares of NYSE WPP opened at $21.21 on Friday. The firm has a 50-day simple moving average of $21.16 and a two-hundred day simple moving average of $24.13. WPP has a 1 year low of $17.47 and a 1 year high of $49.12.

Institutional Investors Weigh In On WPP

A number of institutional investors have recently added to or reduced their stakes in WPP. Jane Street Group LLC grew its stake in 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 last quarter. QRG Capital Management Inc. bought a new stake in shares of WPP in the 2nd quarter valued at about $378,000. Abel Hall LLC purchased a new position in shares of WPP in the 2nd quarter worth approximately $413,000. US Bancorp DE raised its stake in shares of WPP by 27.0% during the 2nd quarter. US Bancorp DE now owns 16,735 shares of the business services provider’s stock worth $586,000 after acquiring an additional 3,560 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in WPP by 41.9% during the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 588 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

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.