WPP (NYSE:WPP) Hits New 12-Month Low – Here’s Why

Wpp Plc (NYSE:WPP)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.55 and last traded at $15.5760, with a volume of 660364 shares traded. The stock had previously closed at $15.83.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. Barclays raised shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, WPP presently has a consensus rating of “Hold”.

WPP Trading Down 1.6%

The business’s fifty day moving average price is $19.24 and its 200-day moving average price is $21.40.

Institutional Trading of WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC raised its stake in shares of WPP by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock worth $255,164,000 after purchasing an additional 47,289 shares during the last quarter. Mondrian Investment Partners LTD boosted its position in shares of WPP by 1.5% during the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock valued at $72,775,000 after buying an additional 48,714 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of WPP by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock valued at $21,555,000 after buying an additional 94,162 shares during the last quarter. Brandes Investment Partners LP grew its holdings in WPP by 12.2% during the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock worth $21,930,000 after buying an additional 68,271 shares in the last quarter. Finally, Royal Bank of Canada raised its position in WPP by 7.5% in the 4th quarter. Royal Bank of Canada now owns 481,076 shares of the business services provider’s stock valued at $10,805,000 after buying an additional 33,433 shares during the last quarter. 4.34% of the stock is owned by 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.