StockNews.com downgraded shares of WPP (NYSE:WPP - Free Report) from a buy rating to a hold rating in a report published on Sunday.
Separately, Citigroup raised shares of WPP to a "strong-buy" rating in a research report on Thursday, August 8th.
Check Out Our Latest Report on WPP
WPP Stock Down 2.0 %
WPP traded down $1.09 during midday trading on Friday, hitting $54.55. 178,364 shares of the company were exchanged, compared to its average volume of 118,408. The firm's 50 day moving average price is $50.98 and its 200-day moving average price is $49.46. WPP has a 1-year low of $42.49 and a 1-year high of $55.74.
Institutional Investors Weigh In On WPP
A number of large investors have recently bought and sold shares of the stock. Brandes Investment Partners LP increased its position 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 valued at $30,232,000 after buying an additional 42,690 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of WPP by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider's stock worth $14,759,000 after purchasing an additional 63,363 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of WPP by 15.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider's stock worth $9,115,000 after purchasing an additional 27,384 shares in the last quarter. Bank of Montreal Can grew its position 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 valued at $9,247,000 after purchasing an additional 80,102 shares during the period. Finally, Capital International Investors raised its holdings in WPP by 4.9% during the first quarter. Capital International Investors now owns 125,589 shares of the business services provider's stock worth $5,953,000 after buying an additional 5,902 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.
About WPP
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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.
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