WPP (NYSE:WPP) Sets New 12-Month Low - What's Next?

Key Points

• WPP's stock price reached a new 52-week low of $27.43, marking a significant decline from a previous closing price of $27.60.
• Analysts have varied opinions on WPP, with ratings ranging from "underweight" to "strong buy," resulting in a consensus rating of "Moderate Buy."
• Institutional investors have significantly increased their stakes in WPP, with substantial investments from firms such as Assetmark Inc. and Brooklyn Investment Group.

Wpp Plc (NYSE:WPP - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $27.47 and last traded at $27.43, with a volume of 1960 shares trading hands. The stock had previously closed at $27.60.

Analyst Upgrades and Downgrades

WPP has been the topic of several recent analyst reports. Wall Street Zen lowered WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of WPP in a report on Thursday, July 10th. Kepler Capital Markets lowered WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday. 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 assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold".

WPP Trading Down 1.2%

The company has a market cap of $5.77 billion, a P/E ratio of 4.48 and a beta of 1.01. The business has a fifty day moving average price of $33.87 and a 200-day moving average price of $38.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00.

Hedge Funds Weigh In On WPP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of WPP by 88.3% in the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after purchasing an additional 467 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of WPP by 3,450.0% in the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock valued at $73,000 after purchasing an additional 1,863 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of WPP in the 1st quarter valued at $75,000. Blue Trust Inc. increased its stake in shares of WPP by 41.9% in the 2nd quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider's stock valued at $70,000 after purchasing an additional 588 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of WPP by 57.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after purchasing an additional 787 shares during the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

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.