Wall Street Zen Upgrades WPP (NYSE:WPP) to “Hold”

WPP (NYSE:WPP) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently issued reports on WPP. Barclays upgraded WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Finally, Citigroup started coverage on shares of WPP in a report on Monday, January 12th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, WPP has a consensus rating of “Hold”.

WPP Stock Down 0.5%

Shares of NYSE WPP opened at $15.64 on Friday. WPP has a 12 month low of $15.57 and a 12 month high of $41.01. The business has a fifty day simple moving average of $19.56 and a 200-day simple moving average of $21.56.

Institutional Investors Weigh In On WPP

A number of institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in WPP by 185.0% during the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of WPP in the third quarter worth approximately $28,000. SBI Securities Co. Ltd. boosted its holdings in shares of WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after purchasing an additional 1,111 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of WPP by 1,279.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after purchasing an additional 1,689 shares during the period. Finally, Farther Finance Advisors LLC grew 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 valued at $42,000 after purchasing an additional 1,225 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.