WPP (NYSE:WPP) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of WPP (NYSE:WPP) from a hold rating to a sell rating in a research note published on Saturday morning.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of WPP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

WPP Stock Up 0.4%

WPP opened at $22.53 on Friday. WPP has a 1 year low of $17.47 and a 1 year high of $52.01. The firm’s fifty day moving average price is $20.77 and its two-hundred day moving average price is $25.40.

Hedge Funds Weigh In On WPP

Several institutional investors have recently bought and sold shares of WPP. Hotchkis & Wiley Capital Management LLC increased its position in WPP by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock worth $255,164,000 after buying an additional 47,289 shares during the last quarter. Mondrian Investment Partners LTD purchased a new stake in WPP in the 3rd quarter worth about $79,947,000. Dimensional Fund Advisors LP raised its stake in WPP by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock valued at $21,555,000 after acquiring an additional 94,162 shares during the period. Brandes Investment Partners LP raised its stake in 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 acquiring an additional 68,271 shares during the period. Finally, Bank of America Corp DE lifted its holdings in WPP by 10.8% during the second quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock valued at $16,486,000 after purchasing an additional 45,866 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.