WPP (NYSE:WPP) Reaches New 12-Month Low – Should You Sell?

Wpp Plc (NYSE:WPP)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.89 and last traded at $16.31, with a volume of 527728 shares traded. The stock had previously closed at $17.11.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WPP. Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They set a “neutral” rating for the company. Barclays upgraded WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen cut WPP from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Finally, Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, WPP presently has an average rating of “Hold”.

WPP Stock Performance

The stock has a 50-day moving average of $20.25 and a 200-day moving average of $22.03.

Institutional Trading of WPP

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in WPP by 397.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,637 shares of the business services provider’s stock worth $127,000 after purchasing an additional 4,503 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of WPP during the fourth quarter worth approximately $2,123,000. Balyasny Asset Management L.P. boosted its position in shares of WPP by 1,082.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after buying an additional 232,878 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in WPP in the 4th quarter worth approximately $726,000. Finally, Cetera Investment Advisers increased its position in WPP by 22.7% in the 4th quarter. Cetera Investment Advisers now owns 15,247 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 2,818 shares during the period. 4.34% of the stock is currently owned by 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.