WPP (NYSE:WPP) Rating Increased to Hold at Wall Street Zen

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

Several other analysts have also recently commented on the company. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, WPP has a consensus rating of “Reduce”.

WPP Stock Up 3.7%

Shares of WPP opened at $23.69 on Friday. The stock’s 50-day moving average price is $20.78 and its two-hundred day moving average price is $24.68. WPP has a 12 month low of $17.47 and a 12 month high of $49.12.

Institutional Investors Weigh In On WPP

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP in the 3rd quarter worth $28,000. GAMMA Investing LLC raised its holdings in 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 buying an additional 814 shares during the last quarter. Osaic Holdings Inc. lifted its stake 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 buying an additional 717 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake 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 buying an additional 1,111 shares in the last quarter. Finally, Traub Capital Management LLC acquired a new position in shares of WPP during the second quarter valued at about $52,000. Institutional investors own 4.34% of the company’s stock.

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.