WPP (NYSE:WPP) Lowered to Hold Rating by 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 analysts at Kepler Capital Markets from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on WPP. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Wall Street Zen downgraded shares of WPP from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Barclays reissued an "underweight" rating on shares of WPP in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

WPP Stock Down 1.2%

Shares of NYSE:WPP opened at $26.75 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. WPP has a 12 month low of $26.62 and a 12 month high of $57.37. The company has a 50-day moving average price of $33.87 and a 200 day moving average price of $38.71. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 4.48 and a beta of 1.00.

Hedge Funds Weigh In On WPP

A number of institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its stake in WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after buying an additional 467 shares in the last quarter. Brooklyn Investment Group raised its stake in WPP by 3,450.0% in the first quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock worth $73,000 after buying an additional 1,863 shares in the last quarter. Quantbot Technologies LP bought a new position in WPP in the first quarter worth approximately $75,000. Blue Trust Inc. raised its stake in WPP by 41.9% in the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider's stock worth $70,000 after buying an additional 588 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock worth $111,000 after purchasing an additional 787 shares during the last quarter. 4.34% of the stock is owned by hedge funds and other 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.

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