WPP (NYSE:WPP) Sees Large Volume Increase – Here’s What Happened

by · The Markets Daily

WPP plc (NYSE:WPP – Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 633,499 shares changed hands during trading, an increase of 220% from the previous session’s volume of 198,099 shares.The stock last traded at $37.08 and had previously closed at $37.53.

Analyst Upgrades and Downgrades

WPP has been the topic of a number of research reports. Barclays downgraded WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group initiated coverage on shares of WPP in a research report on Wednesday, March 26th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, WPP has an average rating of “Moderate Buy”.

Get Our Latest Stock Analysis on WPP

WPP Stock Down 2.1 %

The stock has a 50 day simple moving average of $43.86 and a 200 day simple moving average of $48.81. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 6.15, a PEG ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be given a dividend of $0.9728 per share. The ex-dividend date is Friday, June 6th. This is a positive change from WPP’s previous semi-annual dividend of $0.95. This represents a yield of 6.2%. WPP’s payout ratio is 8.04%.

Institutional Trading of WPP

Several large investors have recently bought and sold shares of WPP. Invesco Ltd. boosted its stake in shares of WPP by 11.9% in the fourth quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider’s stock valued at $83,472,000 after purchasing an additional 172,212 shares during the period. Dimensional Fund Advisors LP lifted its holdings in WPP by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider’s stock worth $24,928,000 after buying an additional 35,412 shares in the last quarter. Northern Trust Corp boosted its position in WPP by 83.5% in the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider’s stock valued at $13,037,000 after buying an additional 115,416 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of WPP during the fourth quarter valued at about $8,724,000. Finally, Optiver Holding B.V. increased its position in shares of WPP by 104.6% during the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider’s stock worth $7,272,000 after acquiring an additional 72,342 shares during the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

About WPP

(Get Free Report)

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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