WPP (NYSE:WPP) Stock Rating Lowered by Wall Street Zen

Key Points

• WPP has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, with other analysts also showing mixed sentiments about the stock.
• As of now, WPP has a market capitalization of $5.19 billion and the stock is trading at approximately $24.04.
• Institutional investors have been actively adjusting their stakes in WPP, with some firms increasing their holdings significantly, such as Campbell & CO Investment Adviser LLC by 604% in the first quarter.

WPP (NYSE:WPP - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

A number of other equities research analysts have also recently weighed in on WPP. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Barclays reissued an "underweight" rating on shares of WPP in a report on Friday, August 8th. Finally, Zacks Research lowered shares of WPP from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce".

WPP Price Performance

Shares of WPP stock opened at $24.04 on Friday. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 4.03 and a beta of 0.97. The firm's 50-day moving average price is $26.78 and its two-hundred day moving average price is $33.78. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. WPP has a 1-year low of $24.01 and a 1-year high of $57.37.

Hedge Funds Weigh In On WPP

Institutional investors and hedge funds have recently made changes to their positions in the company. Range Financial Group LLC acquired a new stake in WPP during the 2nd quarter worth $1,560,000. Vestmark Advisory Solutions Inc. increased its holdings in shares of WPP by 101.0% in the first quarter. Vestmark Advisory Solutions Inc. now owns 34,978 shares of the business services provider's stock worth $1,328,000 after acquiring an additional 17,576 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of WPP by 15.2% during the first quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider's stock worth $3,551,000 after purchasing an additional 12,330 shares during the period. Bank of New York Mellon Corp grew its position in shares of WPP by 120.2% in the 1st quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider's stock valued at $1,763,000 after purchasing an additional 25,359 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its stake in WPP by 604.0% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 33,708 shares of the business services provider's stock worth $1,280,000 after purchasing an additional 28,920 shares in 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.

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