WPP (NYSE:WPP) Stock Breaks Above 200 Day Moving Average - What's Next?

Key Points

• WPP shares broke above their 200-day moving average, reaching $26.70 compared with a 200-day average of $21.04; the stock last traded near $26.57.
• Analyst sentiment remains mixed: three analysts rate WPP Buy, three Hold, and two Sell, resulting in an overall “Hold” rating.
• WPP announced a slightly reduced dividend of $0.5052 per share, payable November 2, while institutional investors and hedge funds own approximately 4.34% of the company.

Wpp Plc (NYSE:WPP - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $21.04 and traded as high as $26.70. WPP shares last traded at $26.5650, with a volume of 326,290 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on WPP. Citigroup reissued a "neutral" rating on shares of WPP in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a research report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of WPP in a report on Friday, September 11th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold".

WPP Price Performance

The business's 50 day moving average is $25.72 and its 200 day moving average is $21.04.

WPP Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a $0.5052 dividend. The ex-dividend date is Friday, October 9th. This is a decrease from WPP's previous dividend of $0.5079. This represents a dividend yield of 398.0%.

Institutional Trading of WPP

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in WPP in the 1st quarter worth about $1,619,000. Range Financial Group LLC acquired a new stake in WPP during the 1st quarter worth about $1,147,000. Arrowstreet Capital Limited Partnership purchased a new position in WPP during the 1st quarter valued at about $609,000. Barometer Capital Management Inc. acquired a new position in shares of WPP in the 1st quarter valued at about $535,000. Finally, Sei Investments Co. increased its holdings in shares of WPP by 115.7% in the 1st 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. Institutional investors and hedge funds own 4.34% of the company's stock.

About WPP

WPP plc is a global marketing and communications services company headquartered in London. Through its agencies and specialist businesses, the company helps clients develop brands, create advertising campaigns, plan and buy media, manage customer relationships, and use data and technology to support marketing and business transformation.

WPP's businesses provide creative services, media investment, public relations, branding, experience design, commerce, and digital marketing. Its operations include GroupM, a media investment business, as well as a broad network of agencies serving clients across sectors such as consumer goods, technology, financial services, healthcare, automotive, and retail.

The company traces its origins to Wire and Plastic Products, which was established in 1971 and later transformed into a marketing services group through acquisitions and international expansion.

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