WPP (NYSE:WPP) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of WPP (NYSE:WPP) from a buy rating to a hold rating in a research report sent to investors on Sunday.

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

WPP Stock Down 2.9 %

WPP stock opened at $52.75 on Friday. WPP has a one year low of $42.49 and a one year high of $55.74. The firm has a 50-day moving average of $51.11 and a two-hundred day moving average of $49.49.

Institutional Investors Weigh In On WPP

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPP. Allspring Global Investments Holdings LLC bought a new position in WPP during the first quarter worth $39,000. Oppenheimer Asset Management Inc. raised its position in shares of WPP by 12.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 31,903 shares of the business services provider’s stock worth $1,512,000 after acquiring an additional 3,628 shares during the last quarter. Sei Investments Co. raised its stake in shares of WPP by 31.6% during the first quarter. Sei Investments Co. now owns 12,571 shares of the business services provider’s stock worth $596,000 after buying an additional 3,020 shares during the last quarter. US Bancorp DE increased its stake in WPP by 22.6% in the 1st quarter. US Bancorp DE now owns 20,266 shares of the business services provider’s stock valued at $961,000 after buying an additional 3,742 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in WPP by 26.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 21,104 shares of the business services provider’s stock worth $1,000,000 after purchasing an additional 4,411 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.