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

Wpp Plc (NYSE:WPPGet Free Report) shares hit a new 52-week low during trading on Wednesday . The stock 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.

WPP News Roundup

Here are the key news stories impacting WPP this week:

Analysts Set New Price Targets

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

Check Out Our Latest Stock Analysis on WPP

WPP Stock Down 4.7%

The firm has a fifty day moving average of $20.43 and a 200-day moving average of $22.09.

Institutional Investors Weigh In On WPP

Several institutional investors have recently modified their holdings of WPP. Mondrian Investment Partners LTD bought a new stake in shares of WPP during the third quarter worth approximately $79,947,000. Bank of Montreal Can boosted its stake in WPP by 385.3% in the fourth quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock valued at $10,134,000 after acquiring an additional 358,218 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in WPP by 1,082.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after acquiring an additional 232,878 shares during the period. ABC Arbitrage SA bought a new stake in shares of WPP during the 4th quarter valued at $5,199,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of WPP by 3,840.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock valued at $3,058,000 after purchasing an additional 132,680 shares during the period. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Company Profile

(Get Free Report)

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.

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