WPP (NYSE:WPP) Cut to "Hold" at Kepler Capital Markets

Key Points

• WPP has been downgraded from a "strong-buy" to a "hold" rating by Kepler Capital Markets, with several other analysts also issuing hold ratings recently.
• The stock price of WPP decreased by 1.2% and currently trades at around $26.75, having a market cap of $5.77 billion.
• Recent movements by institutional investors include significant increases in stakes, with Assetmark Inc. raising its ownership by 88.3% in the first quarter.

WPP (NYSE:WPP - Get Free Report) was downgraded by equities research analysts at Kepler Capital Markets from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. Wall Street Zen lowered WPP from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Finally, Barclays reiterated an "underweight" rating on shares of WPP in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold".

WPP Stock Performance

NYSE:WPP traded down $0.19 on Thursday, reaching $26.76. 462,596 shares of the company's stock were exchanged, compared to its average volume of 358,097. The stock has a fifty day simple moving average of $33.33 and a 200-day simple moving average of $38.42. WPP has a 52 week low of $26.48 and a 52 week high of $57.37. 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 firm has a market cap of $5.77 billion, a price-to-earnings ratio of 4.48 and a beta of 1.01.

Hedge Funds Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Hotchkis & Wiley Capital Management LLC grew its stake in WPP by 27.2% in the first 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 in the last quarter. Invesco Ltd. increased its stake in shares of WPP by 50.8% during the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider's stock valued at $92,937,000 after buying an additional 824,336 shares during the period. Dimensional Fund Advisors LP lifted its stake in WPP by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock worth $24,928,000 after acquiring an additional 35,412 shares during the period. Northern Trust Corp grew its holdings in WPP by 11.6% during the 1st quarter. Northern Trust Corp now owns 283,028 shares of the business services provider's stock worth $10,744,000 after acquiring an additional 29,388 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in WPP by 26.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider's stock valued at $5,829,000 after purchasing an additional 34,737 shares during the period. 4.34% of the stock is owned by institutional investors.

WPP Company Profile

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.