Wpp Plc (NYSE:WPP) Given Consensus Rating of “Reduce” by Brokerages

Wpp Plc (NYSE:WPP) has received a consensus recommendation of “Reduce” from the seven brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company.

WPP has been the subject of several research analyst reports. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a research note on Sunday, January 18th. Finally, Citigroup assumed coverage on WPP in a research note on Monday, January 12th. They set a “neutral” rating for the company.

Institutional Trading of WPP

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of WPP by 185.0% during the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after buying an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in WPP during the 3rd quarter valued at $28,000. SBI Securities Co. Ltd. lifted its position in shares of WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after acquiring an additional 1,111 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of WPP by 184.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of WPP by 38.9% in 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 period. Institutional investors own 4.34% of the company’s stock.

WPP Stock Performance

NYSE WPP opened at $21.16 on Monday. WPP has a 52-week low of $17.47 and a 52-week high of $49.12. The company has a 50-day simple moving average of $21.43 and a 200 day simple moving average of $23.55.

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.