WPP (NYSE:WPP) Sets New 52-Week Low – Should You Sell?

Shares of Wpp Plc (NYSE:WPP) hit a new 52-week low during trading on Thursday . The stock traded as low as $15.87 and last traded at $15.5850, with a volume of 378369 shares changing hands. The stock had previously closed at $17.09.

Analyst Ratings Changes

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

WPP Stock Down 6.5%

The business’s fifty day moving average is $19.84 and its 200 day moving average is $21.74.

Institutional Investors Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD bought a new stake in shares of WPP in the third quarter valued at approximately $79,947,000. Creative Planning boosted its holdings in WPP by 83.3% in the 2nd quarter. Creative Planning now owns 32,594 shares of the business services provider’s stock worth $1,141,000 after buying an additional 14,816 shares during the period. Envestnet Asset Management Inc. grew its stake in WPP by 26.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider’s stock valued at $5,829,000 after buying an additional 34,737 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of WPP by 12.2% during the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock worth $21,930,000 after acquiring an additional 68,271 shares in the last quarter. Finally, ABC Arbitrage SA boosted its holdings in shares of WPP by 321.8% in the second quarter. ABC Arbitrage SA now owns 42,465 shares of the business services provider’s stock worth $1,487,000 after acquiring an additional 32,397 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.