Wpp Plc (NYSE:WPP) Given Consensus Rating of “Reduce” by Brokerages

Shares of Wpp Plc (NYSE:WPP) have been given a consensus rating of “Reduce” by the seven analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company.

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

WPP Price Performance

Shares of NYSE WPP opened at $20.88 on Monday. The firm has a fifty day simple moving average of $21.48 and a 200 day simple moving average of $23.42. WPP has a twelve month low of $17.47 and a twelve month high of $49.12.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WPP. Creative Planning grew its position in shares of WPP by 83.3% in the second quarter. Creative Planning now owns 32,594 shares of the business services provider’s stock valued at $1,141,000 after purchasing an additional 14,816 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of WPP by 26.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider’s stock valued at $5,829,000 after acquiring an additional 34,737 shares during the last quarter. Brandes Investment Partners LP grew its stake in WPP by 12.2% in the 2nd 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 in the last quarter. Abel Hall LLC purchased a new position in WPP in the second quarter worth $413,000. Finally, ABC Arbitrage SA increased its position in shares of WPP by 321.8% during the 2nd quarter. ABC Arbitrage SA now owns 42,465 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 32,397 shares during the last quarter. 4.34% of the stock is currently owned by hedge funds and other 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.