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 research report sent to investors on Sunday morning.

Separately, Citigroup raised shares of WPP to a “strong-buy” rating in a research report on Thursday, August 8th.

WPP Trading Down 1.1 %

Shares of WPP stock opened at $52.16 on Friday. The stock has a 50-day simple moving average of $51.23 and a 200-day simple moving average of $49.50. WPP has a 52-week low of $43.02 and a 52-week high of $55.74.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of WPP during the 3rd quarter worth $35,757,000. Cerity Partners LLC boosted its holdings in WPP by 34.3% during the third quarter. Cerity Partners LLC now owns 13,504 shares of the business services provider’s stock valued at $691,000 after acquiring an additional 3,452 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of WPP by 20.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,981 shares of the business services provider’s stock valued at $818,000 after purchasing an additional 2,688 shares during the last quarter. Caprock Group LLC increased its stake in shares of WPP by 5.0% in the third quarter. Caprock Group LLC now owns 6,535 shares of the business services provider’s stock worth $334,000 after purchasing an additional 313 shares during the period. Finally, Ceera Investments LLC lifted its position in shares of WPP by 23.3% during the 3rd quarter. Ceera Investments LLC now owns 12,355 shares of the business services provider’s stock worth $632,000 after purchasing an additional 2,335 shares during the last quarter. Institutional investors and hedge funds 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.