Wpp Plc (NYSE:WPP) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Wpp Plc (NYSE:WPP) have been assigned an average rating of “Reduce” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company.

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

Institutional Trading of WPP

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of WPP during the third quarter worth about $28,000. Osaic Holdings Inc. increased its holdings in shares of WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after buying an additional 717 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of WPP by 323.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after buying an additional 1,111 shares in the last quarter. Traub Capital Management LLC bought a new stake in shares of WPP during the 2nd quarter worth $52,000. Finally, Allworth Financial LP grew its position in WPP by 38.9% in the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after acquiring an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Stock Up 1.9%

WPP stock opened at $22.89 on Thursday. The stock has a 50-day simple moving average of $20.66 and a two-hundred day simple moving average of $25.10. WPP has a twelve month low of $17.47 and a twelve month high of $51.22.

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.