Barclays Downgrades WPP (NYSE:WPP) to Equal Weight

WPP (NYSE:WPP) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, Marketbeat Ratings reports.

WPP has been the topic of a number of other research reports. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

WPP Price Performance

Shares of NYSE WPP opened at $41.10 on Friday. The stock has a market capitalization of $8.87 billion, a P/E ratio of 6.88, a PEG ratio of 7.06 and a beta of 1.25. WPP has a one year low of $40.48 and a one year high of $57.37. The firm’s 50 day simple moving average is $47.92 and its two-hundred day simple moving average is $50.00.

Hedge Funds Weigh In On WPP

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