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

WPP (NYSE:WPP) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other research analysts have also issued reports on WPP. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. Finally, Citigroup began coverage on WPP in a report on Monday, January 12th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

WPP Stock Down 1.3%

Shares of WPP stock opened at $21.21 on Friday. The firm’s fifty day simple moving average is $21.16 and its 200 day simple moving average is $24.22. WPP has a 1 year low of $17.47 and a 1 year high of $49.12.

Hedge Funds Weigh In On WPP

A number of large investors have recently made changes to their positions in WPP. Hotchkis & Wiley Capital Management LLC raised its position in shares of WPP by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock valued at $255,164,000 after buying an additional 47,289 shares in the last quarter. Mondrian Investment Partners LTD acquired a new position in WPP in the 3rd quarter worth about $79,947,000. Dimensional Fund Advisors LP grew its holdings in WPP by 12.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock worth $21,555,000 after acquiring an additional 94,162 shares during the last quarter. Brandes Investment Partners LP lifted its stake in shares of WPP by 12.2% in the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock worth $21,930,000 after acquiring an additional 68,271 shares during the period. Finally, Bank of America Corp DE raised its holdings in WPP by 10.8% during the 2nd quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock worth $16,486,000 after purchasing an additional 45,866 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

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.