Wpp Plc (NYSE:WPP - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.62 and traded as high as $27.57. WPP shares last traded at $27.0260, with a volume of 360,203 shares.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group started coverage on WPP in a research note on Wednesday, June 3rd. They issued a "sell" rating on the stock. Rothschild & Co Redburn began coverage on shares of WPP in a research report on Thursday, May 28th. They set a "buy" rating for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of WPP in a report on Tuesday, June 16th. Citigroup reissued a "neutral" rating on shares of WPP in a research report on Monday, August 10th. Finally, Berenberg Bank assumed coverage on shares of WPP in a research note on Tuesday, June 9th. They set a "buy" rating for the company. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold".
View Our Latest Stock Report on WPP
WPP Price Performance
The company has a debt-to-equity ratio of 1.39, a current ratio of 0.87 and a quick ratio of 0.89. The stock's 50-day moving average price is $20.50 and its 200-day moving average price is $18.62.
WPP Cuts Dividend
The firm also recently disclosed a dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be issued a $0.5052 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a yield of 390.0%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in WPP. Legacy Wealth Asset Management LLC raised its position in shares of WPP by 6.4% in the second quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider's stock valued at $294,000 after buying an additional 1,146 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in WPP during the first quarter worth approximately $1,619,000. Arrowstreet Capital Limited Partnership bought a new position in WPP during the 1st quarter worth $609,000. Sei Investments Co. increased its stake in WPP by 115.7% during the 1st quarter. Sei Investments Co. now owns 48,528 shares of the business services provider's stock worth $755,000 after acquiring an additional 26,031 shares during the period. Finally, NewEdge Wealth LLC raised its holdings in WPP by 68.8% in the 1st quarter. NewEdge Wealth LLC now owns 26,640 shares of the business services provider's stock valued at $414,000 after acquiring an additional 10,862 shares in the last quarter. 4.34% of the stock is owned by institutional investors.
About WPP
(
Get Free Report)
WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.
Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.
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