Citigroup Begins Coverage on WPP (NYSE:WPP)

Research analysts at Citigroup began coverage on shares of WPP (NYSE:WPP) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “neutral” rating on the business services provider’s stock.

Several other research analysts have also recently weighed in on WPP. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

WPP Stock Down 0.5%

Shares of NYSE:WPP opened at $21.98 on Monday. WPP has a 1 year low of $17.47 and a 1 year high of $49.12. The stock’s fifty day moving average price is $20.95 and its 200-day moving average price is $24.43.

Institutional Trading of WPP

A number of hedge funds and other institutional investors have recently bought and sold shares of WPP. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP in the third quarter worth about $28,000. GAMMA Investing LLC increased its holdings in WPP by 185.0% in the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after acquiring an additional 814 shares in the last quarter. Osaic Holdings Inc. raised its stake in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after acquiring an additional 717 shares during the period. SBI Securities Co. Ltd. raised its stake in WPP by 323.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after acquiring an additional 1,111 shares during the period. Finally, Traub Capital Management LLC purchased a new position in WPP during the second quarter valued at approximately $52,000. Hedge funds and other 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.