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

StockNews.com lowered shares of WPP (NYSE:WPP) from a buy rating to a hold rating in a research note released on Monday morning.

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

WPP Stock Performance

WPP stock opened at $55.63 on Monday. The firm’s 50-day moving average is $50.68 and its 200-day moving average is $49.38. WPP has a 1 year low of $42.49 and a 1 year high of $55.74.

Hedge Funds Weigh In On WPP

Several large investors have recently bought and sold shares of WPP. Allspring Global Investments Holdings LLC acquired a new position in WPP during the 1st quarter valued at about $39,000. Oppenheimer Asset Management Inc. increased its stake in WPP by 12.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 31,903 shares of the business services provider’s stock valued at $1,512,000 after buying an additional 3,628 shares during the period. Mondrian Investment Partners LTD increased its stake in WPP by 46.5% during the 1st quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock valued at $158,791,000 after buying an additional 1,062,708 shares during the period. Sei Investments Co. grew its stake in shares of WPP by 31.6% in the 1st quarter. Sei Investments Co. now owns 12,571 shares of the business services provider’s stock worth $596,000 after purchasing an additional 3,020 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of WPP by 22.6% in the 1st quarter. US Bancorp DE now owns 20,266 shares of the business services provider’s stock worth $961,000 after purchasing an additional 3,742 shares during the last quarter. Institutional investors and hedge funds 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.