WPP (NYSE:WPP) Cut to Hold at StockNews.com

WPP (NYSE:WPP) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Sunday.

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

WPP Trading Down 0.4 %

WPP stock opened at $54.34 on Friday. The business’s fifty day moving average price is $50.98 and its 200 day moving average price is $49.46. WPP has a 12-month low of $42.49 and a 12-month high of $55.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brandes Investment Partners LP boosted its stake in shares of WPP by 7.0% in the 2nd quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock valued at $30,232,000 after buying an additional 42,690 shares during the period. Dimensional Fund Advisors LP lifted its stake in WPP by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock worth $14,759,000 after acquiring an additional 63,363 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in WPP by 15.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after acquiring an additional 27,384 shares in the last quarter. Bank of Montreal Can increased its position in shares of 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 purchasing an additional 80,102 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of WPP by 4.9% in the 1st quarter. Capital International Investors now owns 125,589 shares of the business services provider’s stock valued at $5,953,000 after purchasing an additional 5,902 shares in the last quarter. 4.34% of the stock is 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.