WPP (NYSE:WPP) Sees Large Volume Increase

WPP plc (NYSE:WPP) shares saw an uptick in trading volume on Thursday . 312,987 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 173,272 shares.The stock last traded at $49.88 and had previously closed at $50.25.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group downgraded WPP from a “buy” rating to a “sell” rating in a research report on Thursday, January 11th. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.00.

WPP Price Performance

The business has a 50-day moving average of $46.84 and a 200-day moving average of $46.35. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98.

WPP Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a $0.244 dividend. This represents a yield of 5.3%. The ex-dividend date is Friday, June 7th.

Hedge Funds Weigh In On WPP

Several institutional investors have recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. grew its position in WPP by 1.4% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 17,344 shares of the business services provider’s stock valued at $773,000 after acquiring an additional 240 shares in the last quarter. NewEdge Wealth LLC grew its position in WPP by 1.4% in the 3rd quarter. NewEdge Wealth LLC now owns 17,344 shares of the business services provider’s stock valued at $773,000 after acquiring an additional 240 shares in the last quarter. Natixis Advisors L.P. grew its position in WPP by 0.4% in the 3rd quarter. Natixis Advisors L.P. now owns 66,272 shares of the business services provider’s stock valued at $2,955,000 after acquiring an additional 268 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of WPP by 3.0% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 9,259 shares of the business services provider’s stock valued at $440,000 after buying an additional 273 shares during the period. Finally, CWM LLC boosted its stake in shares of WPP by 48.2% in the 3rd quarter. CWM LLC now owns 864 shares of the business services provider’s stock valued at $39,000 after buying an additional 281 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.

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.