WPP (NYSE:WPP) Now Covered by Analysts at Citigroup

Equities researchers at Citigroup began coverage on shares of WPP (NYSE:WPP) in a report released on Monday, Marketbeat.com reports. The firm set a “neutral” rating on the business services provider’s stock.

WPP has been the subject of several other reports. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

WPP Price Performance

NYSE:WPP traded down $1.10 during trading hours on Monday, reaching $22.60. The company’s stock had a trading volume of 81,888 shares, compared to its average volume of 555,234. The firm has a 50-day simple moving average of $20.78 and a 200-day simple moving average of $24.61. WPP has a 1 year low of $17.47 and a 1 year high of $49.12.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after purchasing an additional 814 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in WPP during the third quarter worth $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of WPP by 323.9% in 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 in the last quarter. Allworth Financial LP boosted its position in WPP by 38.9% during the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after acquiring an additional 519 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 717 shares during the period. 4.34% of the stock is currently 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.