StockNews.com Downgrades WPP (NYSE:WPP) to Hold

WPP (NYSE:WPP) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, Citigroup upgraded WPP to a “strong-buy” rating in a report on Thursday, August 8th.

WPP Trading Up 0.3 %

Shares of WPP traded up $0.17 during mid-day trading on Monday, reaching $51.62. 155,256 shares of the company’s stock were exchanged, compared to its average volume of 160,223. The company has a 50-day simple moving average of $51.54 and a two-hundred day simple moving average of $49.54. WPP has a 52-week low of $43.02 and a 52-week high of $55.74.

Hedge Funds Weigh In On WPP

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in WPP by 26.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 120,564 shares of the business services provider’s stock worth $5,715,000 after acquiring an additional 24,899 shares in the last quarter. International Assets Investment Management LLC bought a new stake in WPP during the third quarter valued at about $1,479,000. Envestnet Asset Management Inc. increased its position in WPP by 15.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after buying an additional 27,384 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of WPP by 9.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider’s stock valued at $1,592,000 after buying an additional 2,862 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in WPP by 72.0% in the 2nd quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock valued at $9,247,000 after acquiring an additional 80,102 shares in the last quarter. Institutional investors own 4.34% of the company’s stock.

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.