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

WPP stock opened at $51.41 on Monday. The stock has a 50-day moving average price of $51.67 and a two-hundred day moving average price of $49.56. WPP has a 12-month low of $43.02 and a 12-month high of $55.74.

Institutional Inflows and Outflows

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