Wpp Plc (NYSE:WPP) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Wpp Plc (NYSE:WPP) have earned an average rating of “Reduce” from the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company.

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of WPP from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. Finally, Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th.

WPP Trading Up 2.9%

Shares of WPP stock opened at $23.58 on Thursday. The business’s 50 day simple moving average is $20.65 and its 200-day simple moving average is $24.95. WPP has a twelve month low of $17.47 and a twelve month high of $49.54.

Institutional Trading of WPP

Several hedge funds and other institutional investors have recently modified their holdings of WPP. Caitong International Asset Management Co. Ltd acquired a new stake in shares of WPP in the 3rd quarter valued at $28,000. GAMMA Investing LLC increased its position in WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after acquiring an additional 814 shares during the period. Osaic Holdings Inc. raised its stake 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. lifted its stake in 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 purchasing an additional 1,111 shares during the period. Finally, Traub Capital Management LLC acquired a new stake in shares of WPP in the 2nd quarter valued at $52,000. 4.34% of the stock is currently owned by hedge funds and other 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.