WPP (NYSE:WPP) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of WPP (NYSE:WPP) from a sell rating to a hold rating in a report published on Saturday.

Several other research firms have also weighed in on WPP. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Citigroup assumed coverage on shares of WPP in a research report on Monday, January 12th. They set a “neutral” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One equities 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 company’s stock. According to MarketBeat.com, WPP has a consensus rating of “Reduce”.

WPP Stock Performance

Shares of WPP opened at $20.88 on Friday. WPP has a 52 week low of $17.47 and a 52 week high of $49.12. The stock’s 50-day moving average price is $21.48 and its 200-day moving average price is $23.45.

Institutional Trading of WPP

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its position in shares of WPP by 49.0% during the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock worth $2,523,000 after purchasing an additional 21,866 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of WPP during the second quarter valued at approximately $378,000. Abel Hall LLC acquired a new position in shares of WPP during the second quarter valued at approximately $413,000. US Bancorp DE lifted its position in shares of WPP by 27.0% in the second quarter. US Bancorp DE now owns 16,735 shares of the business services provider’s stock valued at $586,000 after acquiring an additional 3,560 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of WPP by 41.9% in the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock worth $70,000 after acquiring an additional 588 shares during the last quarter. Hedge funds and other 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.