Wpp Plc (NYSE:WPP) Given Average Rating of “Hold” by Brokerages

Wpp Plc (NYSE:WPP) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company.

A number of equities analysts have commented on WPP shares. Barclays raised shares of WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup reaffirmed a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. Finally, Rothschild & Co Redburn started coverage on shares of WPP in a research note on Thursday. They set a “buy” rating on the stock.

WPP Stock Performance

Shares of WPP stock opened at $18.63 on Friday. WPP has a one year low of $14.81 and a one year high of $40.66. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48. The business’s 50 day moving average price is $17.34 and its 200 day moving average price is $19.05.

Hedge Funds Weigh In On WPP

A number of hedge funds have recently modified their holdings of the business. Mondrian Investment Partners LTD acquired a new stake in shares of WPP during the 3rd quarter worth about $79,947,000. Bank of Montreal Can increased its position in shares of WPP by 385.3% during the 4th quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock worth $10,134,000 after purchasing an additional 358,218 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of WPP by 1,082.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after purchasing an additional 232,878 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of WPP during the 4th quarter worth about $5,199,000. Finally, Tower Research Capital LLC TRC increased its position in shares of WPP by 3,840.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 132,680 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.