WPP (NYSE:WPP) Shares Gap Up - Should You Buy?

Key Points

• WPP shares opened higher, rising from a previous close of $24.72 to $25.89 before trading around $25.61.
• Analyst sentiment is mixed, with three Buy, three Hold, and two Sell ratings; the overall consensus is Hold.
• WPP announced a slightly reduced dividend of $0.5052 per share, while institutional investors own approximately 4.34% of the company.

Wpp Plc (NYSE:WPP - Get Free Report) gapped up before the market opened on Thursday. The stock had previously closed at $24.72, but opened at $25.89. WPP shares last traded at $25.6060, with a volume of 35,183 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a "sell (d)" rating on shares of WPP in a research report on Friday, September 11th. Citigroup reissued a "neutral" rating on shares of WPP in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a report on Tuesday, September 8th. Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday, June 9th. They set a "buy" rating on the stock. Finally, The Goldman Sachs Group initiated coverage on WPP in a research report on Wednesday, June 3rd. They issued a "sell" rating for the company. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, WPP currently has an average rating of "Hold".

WPP Stock Up 2.0%

The business has a 50-day moving average of $24.70 and a 200-day moving average of $20.03. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.87 and a quick ratio of 0.89.

WPP Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a $0.5052 dividend. This is a decrease from WPP's previous dividend of $0.5079. This represents a dividend yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

Institutional Trading of WPP

Several institutional investors have recently added to or reduced their stakes in WPP. Renaissance Technologies LLC bought a new position in WPP in the 1st quarter valued at $1,619,000. Range Financial Group LLC bought a new stake in shares of WPP during the first quarter worth $1,147,000. Sei Investments Co. boosted its stake in shares of WPP by 115.7% during the first quarter. Sei Investments Co. now owns 48,528 shares of the business services provider's stock valued at $755,000 after purchasing an additional 26,031 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in shares of WPP during the first quarter valued at $609,000. Finally, Barometer Capital Management Inc. bought a new position in shares of WPP in the first quarter worth about $535,000. Institutional investors own 4.34% of the company's stock.

WPP Company Profile

WPP plc is a global marketing and communications company that provides advertising, media investment, public relations, branding, customer experience, and technology services. Through its agencies and specialist businesses, WPP helps organizations develop brands, create content, reach audiences, and use data and technology to support marketing and customer engagement.

The company's portfolio includes agencies and platforms such as WPP Media, VML, Ogilvy, Burson, AKQA, GroupM, and WPP Open.

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