WPP (NYSE:WPP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of WPP (NYSE:WPP) from a sell rating to a hold rating in a research report released on Saturday.

WPP has been the topic of several other research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a report on Wednesday, January 21st. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. Finally, Citigroup started coverage on shares of WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. One investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

WPP Trading Up 0.8%

NYSE WPP opened at $15.81 on Friday. WPP has a twelve month low of $15.57 and a twelve month high of $41.01. The firm has a 50-day simple moving average of $19.40 and a 200 day simple moving average of $21.48.

Institutional Investors Weigh In On WPP

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased 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 valued at $127,000 after acquiring an additional 4,503 shares in the last quarter. OLD Mission Capital LLC bought a new stake in shares of WPP during the fourth quarter valued at approximately $2,123,000. Balyasny Asset Management L.P. increased its holdings in shares of WPP by 1,082.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock valued at $5,714,000 after purchasing an additional 232,878 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of WPP in the fourth quarter valued at approximately $726,000. Finally, Cetera Investment Advisers raised 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 worth $342,000 after purchasing an additional 2,818 shares during the last quarter. Institutional investors 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.