WPP (NYSE:WPP) Downgraded by StockNews.com to Hold

StockNews.com cut shares of WPP (NYSE:WPP) from a buy rating to a hold rating in a report published on Monday.

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

WPP Price Performance

NYSE:WPP opened at $51.62 on Monday. The firm has a 50-day moving average of $51.54 and a two-hundred day moving average of $49.54. WPP has a 1-year low of $43.02 and a 1-year high of $55.74.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WPP. Hotchkis & Wiley Capital Management LLC lifted its position in shares of WPP by 47.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock worth $274,016,000 after purchasing an additional 1,734,750 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in WPP during the 3rd quarter worth approximately $35,757,000. Bank of Montreal Can grew 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 worth $9,247,000 after acquiring an additional 80,102 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of WPP by 24.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock valued at $14,759,000 after acquiring an additional 63,363 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its stake in WPP by 7.0% during the second quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after purchasing an additional 42,690 shares during 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.