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 report issued on Saturday.

Several other equities research analysts have also recently issued reports on WPP. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, WPP currently has a consensus rating of “Reduce”.

WPP Price Performance

Shares of WPP opened at $22.07 on Friday. WPP has a 1 year low of $17.47 and a 1 year high of $49.12. The company’s 50 day simple moving average is $20.86 and its 200 day simple moving average is $24.52.

Institutional Investors Weigh In On WPP

Several institutional investors and hedge funds have recently modified their holdings of WPP. Dynamic Technology Lab Private Ltd acquired a new stake in WPP in the first quarter valued at approximately $327,000. Jane Street Group LLC lifted its stake in shares of WPP by 49.0% in the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock valued at $2,523,000 after purchasing an additional 21,866 shares during the last quarter. Range Financial Group LLC bought a new stake in WPP in the second quarter worth $1,560,000. QRG Capital Management Inc. bought a new stake in shares of WPP during the 2nd quarter worth $378,000. Finally, Abel Hall LLC acquired a new position in WPP in the 2nd quarter valued at $413,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

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.