Wpp Plc (NYSE:WPP) Given Average Rating of "Hold" by Brokerages

Key Points

• WPP has a consensus analyst rating of “Hold” from eight covering firms, with two sell ratings, four holds, and two buys.
• Recent analyst activity has been mixed: Berenberg Bank and Rothschild & Co Redburn initiated buy coverage, while Weiss Ratings and Goldman Sachs issued sell calls and Citigroup stayed neutral.
• WPP shares opened at $19.04 and have traded between a 52-week low of $14.81 and high of $29.71; hedge funds own about 4.34% of the company.

Wpp Plc (NYSE:WPP - Get Free Report) has been given a consensus rating of "Hold" by the eight ratings firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company.

WPP has been the subject of a number of analyst reports. Berenberg Bank started coverage on shares of WPP in a report on Tuesday, June 9th. They issued a "buy" rating for the company. Rothschild & Co Redburn began coverage on shares of WPP in a report on Thursday, May 28th. They issued a "buy" rating on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of WPP in a research note on Tuesday, June 16th. Citigroup reaffirmed a "neutral" rating on shares of WPP in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group began coverage on WPP in a report on Wednesday, June 3rd. They issued a "sell" rating on the stock.

Hedge Funds Weigh In On WPP

Hedge funds have recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC lifted its stake in WPP by 0.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider's stock worth $255,164,000 after purchasing an additional 47,289 shares in the last quarter. Mondrian Investment Partners LTD grew its stake in shares of WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider's stock valued at $72,775,000 after buying an additional 48,714 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of WPP by 12.3% in the third quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider's stock valued at $21,555,000 after buying an additional 94,162 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of WPP by 7.5% in the 4th quarter. Royal Bank of Canada now owns 481,076 shares of the business services provider's stock valued at $10,805,000 after buying an additional 33,433 shares during the period. Finally, Bank of America Corp DE lifted its stake in WPP by 10.8% during the 2nd quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider's stock worth $16,486,000 after acquiring an additional 45,866 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Price Performance

Shares of NYSE:WPP opened at $19.04 on Monday. WPP has a 52-week low of $14.81 and a 52-week high of $29.71. The business has a fifty day moving average of $17.96 and a two-hundred day moving average of $18.36. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

WPP Company Profile

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

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