WPP (NYSE:WPP) Upgraded at Zacks Research

Key Points

• WPP has been upgraded from a "strong sell" rating to a "hold" rating by Zacks Research, amidst a mixed outlook from other analysts regarding the company's stock.
• WPP's shares opened at $24.38, with a market cap of $5.26 billion and a P/E ratio of 4.08.
• Institutional investors hold 4.34% of WPP's stock, with several hedge funds increasing their positions significantly in the first quarter.

WPP (NYSE:WPP - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Kepler Capital Markets lowered WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a report on Thursday, July 10th. Barclays reaffirmed an "underweight" rating on shares of WPP in a report on Friday, August 8th. Wall Street Zen lowered WPP from a "hold" rating to a "sell" rating in a report on Sunday, September 21st. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of WPP in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, WPP presently has a consensus rating of "Reduce".

WPP Stock Performance

Shares of WPP opened at $24.38 on Monday. The business has a 50-day moving average of $25.84 and a 200 day moving average of $32.43. WPP has a fifty-two week low of $23.43 and a fifty-two week high of $57.37. The firm has a market cap of $5.26 billion, a P/E ratio of 4.08 and a beta of 0.95.

Institutional Trading of WPP

A number of hedge funds have recently bought and sold shares of WPP. GAMMA Investing LLC lifted its position in WPP by 323.1% in the 1st quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock worth $200,000 after buying an additional 4,029 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in WPP by 1.5% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 34,710 shares of the business services provider's stock worth $1,318,000 after buying an additional 498 shares during the last quarter. Ceera Investments LLC lifted its position in WPP by 77.4% in the 1st quarter. Ceera Investments LLC now owns 28,490 shares of the business services provider's stock worth $1,081,000 after buying an additional 12,430 shares during the last quarter. Bank of New York Mellon Corp lifted its position in 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 worth $1,763,000 after buying an additional 25,359 shares during the last quarter. Finally, Assetmark Inc. lifted its position in WPP by 88.3% in the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after buying an additional 467 shares during the last quarter. Institutional investors 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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