Wall Street Zen Downgrades WPP (NYSE:WPP) to Sell

WPP (NYSE:WPP) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities research analysts have also issued reports on WPP. Zacks Research lowered WPP from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

WPP Trading Up 1.1%

WPP opened at $22.41 on Friday. The company has a 50 day simple moving average of $20.78 and a two-hundred day simple moving average of $25.51. WPP has a 1-year low of $17.47 and a 1-year high of $52.26.

Hedge Funds Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in WPP in the third quarter worth $28,000. SBI Securities Co. Ltd. grew its stake in shares of WPP by 323.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after buying an additional 1,111 shares in the last quarter. 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. Rothschild Investment LLC increased its holdings in shares of WPP by 47.7% in the 3rd quarter. Rothschild Investment LLC now owns 2,038 shares of the business services provider’s stock worth $51,000 after buying an additional 658 shares during the last quarter. Finally, Traub Capital Management LLC purchased a new stake in shares of WPP during the 2nd quarter valued at about $52,000. 4.34% of the stock is owned by institutional investors.

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.