WPP (NYSE:WPP) Sets New 52-Week Low - Here's Why

Key Points

• WPP's share price recently hit a new 52-week low of $26.48, indicating significant declines as it last traded at $26.62.
• Analysts have mixed opinions on WPP, with one selling rating, three hold ratings, and one buy rating, leading to a consensus rating of "Hold".
• Institutional investors have shown increased activity, with notable stakes raised by JPMorgan Chase & Co., which boosted its holdings by 184.3% in the fourth quarter.

WPP PLC (NYSE:WPP - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The stock traded as low as $26.48 and last traded at $26.62, with a volume of 350469 shares changing hands. The stock had previously closed at $26.78.

Analyst Ratings Changes

A number of equities analysts recently commented on WPP shares. Barclays reiterated an "underweight" rating on shares of WPP in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of WPP in a report on Thursday, July 10th. Wall Street Zen lowered shares of WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Kepler Capital Markets cut shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, WPP has an average rating of "Hold".

WPP Stock Down 2.2%

The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 4.39 and a beta of 1.01. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average of $33.06 and a 200 day moving average of $38.34.

Hedge Funds Weigh In On WPP

Several large investors have recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC increased its position in shares of WPP by 27.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 6,720,858 shares of the business services provider's stock worth $255,124,000 after purchasing an additional 1,436,668 shares during the last quarter. Invesco Ltd. boosted its stake in WPP by 50.8% during the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider's stock worth $92,937,000 after buying an additional 824,336 shares during the period. Dimensional Fund Advisors LP increased its position in shares of WPP by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock valued at $24,928,000 after acquiring an additional 35,412 shares during the last quarter. Northern Trust Corp raised its stake in shares of WPP by 11.6% in the 1st quarter. Northern Trust Corp now owns 283,028 shares of the business services provider's stock valued at $10,744,000 after acquiring an additional 29,388 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of WPP by 26.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider's stock worth $5,829,000 after acquiring an additional 34,737 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company's stock.

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.