WPP (NYSE:WPP) Rating Increased to Hold at Wall Street Zen

WPP (NYSE:WPP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also recently commented on WPP. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a report on Wednesday, January 21st. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Citigroup started coverage on WPP in a research note on Monday, January 12th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

WPP Trading Up 0.8%

NYSE WPP opened at $20.88 on Friday. The firm’s 50 day simple moving average is $21.48 and its 200 day simple moving average is $23.48. WPP has a 1 year low of $17.47 and a 1 year high of $49.12.

Institutional Trading of WPP

A number of hedge funds have recently made changes to their positions in WPP. Creative Planning increased its position in shares of WPP by 83.3% during the second quarter. Creative Planning now owns 32,594 shares of the business services provider’s stock worth $1,141,000 after buying an additional 14,816 shares during the period. Envestnet Asset Management Inc. raised its position in shares of WPP by 26.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider’s stock worth $5,829,000 after acquiring an additional 34,737 shares in the last quarter. Brandes Investment Partners LP lifted its stake in shares of WPP by 12.2% in the 2nd quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock valued at $21,930,000 after purchasing an additional 68,271 shares during the period. Abel Hall LLC acquired a new position in shares of WPP in the 2nd quarter valued at about $413,000. Finally, ABC Arbitrage SA boosted 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 in the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

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.