WPP (NYSE:WPP) Hits New 12-Month Low – Here’s Why

Wpp Plc (NYSE:WPP)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $15.55 and last traded at $15.5760, with a volume of 660364 shares trading hands. The stock had previously closed at $15.83.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WPP shares. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday. Citigroup initiated coverage on shares of WPP in a research note on Monday, January 12th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

WPP Stock Performance

The company’s 50 day moving average price is $19.24 and its 200-day moving average price is $21.40.

Institutional Trading of WPP

Large investors have recently bought and sold shares of the company. Allworth Financial LP raised its stake in shares of WPP by 38.9% in the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock valued at $46,000 after buying an additional 519 shares during the period. Blue Trust Inc. grew its stake in shares of WPP by 30.3% during the 3rd quarter. Blue Trust Inc. now owns 2,592 shares of the business services provider’s stock worth $65,000 after acquiring an additional 602 shares during the period. Cetera Investment Advisers increased its holdings in WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after acquiring an additional 654 shares during the last quarter. Rothschild Investment LLC increased its holdings in WPP by 47.7% in the 3rd quarter. Rothschild Investment LLC now owns 2,038 shares of the business services provider’s stock worth $51,000 after acquiring an additional 658 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 717 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.