WPP (NYSE:WPP) Upgraded at Zacks Research

WPP (NYSE:WPP) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts also recently commented on the stock. Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, WPP presently has an average rating of “Reduce”.

WPP Stock Performance

WPP stock opened at $22.95 on Monday. The business has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $25.30. WPP has a one year low of $17.47 and a one year high of $52.01.

Institutional Investors Weigh In On WPP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP in the third quarter worth about $28,000. Osaic Holdings Inc. increased its holdings 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 in the last quarter. SBI Securities Co. Ltd. raised its position in WPP by 323.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after purchasing an additional 1,111 shares during the last quarter. Traub Capital Management LLC acquired a new position in WPP during the 2nd quarter worth $52,000. Finally, Blue Trust Inc. lifted its holdings in WPP by 41.9% during the 2nd quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock worth $70,000 after buying an additional 588 shares in the last quarter. Institutional investors and hedge funds 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.