WPP (NYSE:WPP) Rating Increased to Buy at Kepler Capital Markets

WPP (NYSE:WPP) was upgraded by Kepler Capital Markets from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat.com reports.

Separately, StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

WPP Stock Performance

Shares of WPP stock opened at $44.65 on Friday. The stock’s 50-day simple moving average is $51.19 and its 200-day simple moving average is $49.90. WPP has a 52 week low of $43.02 and a 52 week high of $57.37.

Institutional Investors Weigh In On WPP

A number of hedge funds have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC lifted its position in shares of WPP by 47.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock worth $274,016,000 after buying an additional 1,734,750 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of WPP in the third quarter worth about $35,757,000. Brandes Investment Partners LP lifted its position in shares of WPP by 7.0% in the second quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after buying an additional 42,690 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of WPP by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock worth $14,759,000 after buying an additional 63,363 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of WPP by 15.9% in the second quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after buying an additional 27,384 shares in the last quarter. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

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.