Wpp Plc (NYSE:WPP) Given Average Recommendation of “Reduce” by Analysts

Wpp Plc (NYSE:WPP) has received an average rating of “Reduce” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company.

Several analysts recently weighed in on WPP shares. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup began coverage on WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a report on Wednesday. Finally, Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a research report on Sunday, January 18th.

Institutional Investors Weigh In On WPP

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of WPP in the 3rd quarter worth $28,000. SBI Securities Co. Ltd. raised its stake in shares of 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 last quarter. Farther Finance Advisors LLC raised its stake in shares of WPP by 184.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of WPP by 38.9% in the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after purchasing an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Stock Performance

Shares of WPP opened at $22.02 on Monday. WPP has a fifty-two week low of $17.47 and a fifty-two week high of $49.12. The firm’s 50-day simple moving average is $21.37 and its two-hundred day simple moving average is $23.67.

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.