WPP (NYSE:WPP) Rating Lowered to “Equal Weight” at Barclays

WPP (NYSE:WPP) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, MarketBeat reports.

Several other equities research analysts have also weighed in on the company. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th.

WPP Trading Down 15.3 %

WPP stock opened at $41.10 on Friday. The business’s 50 day simple moving average is $47.92 and its 200 day simple moving average is $50.00. WPP has a 12 month low of $40.48 and a 12 month high of $57.37. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 7.06 and a beta of 1.25.

Institutional Investors Weigh In On WPP

A number of institutional investors and hedge funds have recently made changes to their positions in WPP. Assetmark Inc. increased its stake in WPP by 52,800.0% in the 4th quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after acquiring an additional 528 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 966 shares in the last quarter. GAMMA Investing LLC lifted its position in WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in WPP in the 3rd quarter worth approximately $84,000. Finally, Russell Investments Group Ltd. raised its position in shares of WPP by 57.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock valued at $111,000 after buying an additional 787 shares in the last quarter. Hedge funds and other institutional investors 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.