Wpp Plc (NYSE:WPP) Given Average Rating of “Hold” by Analysts

Shares of Wpp Plc (NYSE:WPP) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company.

A number of brokerages recently issued reports on WPP. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Thursday, April 30th. The Goldman Sachs Group began coverage on shares of WPP in a report on Wednesday, June 3rd. They set a “sell” rating on the stock. Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating for the company. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th.

WPP Stock Performance

WPP opened at $16.29 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48. WPP has a one year low of $14.81 and a one year high of $36.66. The business’s 50-day simple moving average is $17.99 and its 200-day simple moving average is $18.72.

Hedge Funds Weigh In On WPP

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of WPP by 185.0% in the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 814 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of WPP in the 3rd quarter valued at about $28,000. Global Retirement Partners LLC grew its stake in WPP by 1,279.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after buying an additional 1,689 shares during the last quarter. Farther Finance Advisors LLC increased its position in WPP by 184.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after buying an additional 1,225 shares during the period. Finally, Allworth Financial LP increased its position in WPP by 38.9% during the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after buying an additional 519 shares during the period. Hedge funds and other 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.