Wpp Plc (NYSE:WPP) Receives Consensus Rating of “Reduce” from Brokerages

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

Several research firms recently weighed in on WPP. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research 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 initiated coverage on WPP in a report on Monday, January 12th. They set a “neutral” rating for the company.

WPP Stock Performance

WPP stock opened at $20.88 on Monday. WPP has a 1-year low of $17.47 and a 1-year high of $49.12. The business has a 50 day simple moving average of $21.48 and a two-hundred day simple moving average of $23.48.

Hedge Funds Weigh In On WPP

A number of institutional investors and hedge funds have recently made changes to their positions in WPP. GAMMA Investing LLC raised its position in shares of WPP by 185.0% during the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after buying an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in WPP during the third quarter worth approximately $28,000. SBI Securities Co. Ltd. raised its position in WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,111 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of WPP by 184.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of WPP by 38.9% in the 3rd 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 period. 4.34% of the stock is 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.