WPP (NYSE:WPP) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• WPP shares moved above their 200-day moving average, trading as high as $26.10 versus the average of $19.41, before last trading near $25.85.
• Analyst sentiment is mixed: three analysts rate WPP Buy, three Hold, and two Sell, resulting in an overall “Hold” consensus from MarketBeat.
• WPP announced a dividend of $0.5052 per share, while institutional investors own 4.34% of the company and several hedge funds recently increased or initiated positions.

Wpp Plc (NYSE:WPP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.41 and traded as high as $26.10. WPP shares last traded at $25.8480, with a volume of 200,331 shares.

Analysts Set New Price Targets

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

WPP Trading Down 0.7%

The firm has a 50-day simple moving average of $23.16 and a 200-day simple moving average of $19.41. The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39.

WPP Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be issued a dividend of $0.5052 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a yield of 390.0%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD lifted its holdings in shares of WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider's stock worth $72,775,000 after buying an additional 48,714 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of WPP in the first quarter valued at approximately $1,619,000. Range Financial Group LLC purchased a new position in WPP during the first quarter valued at approximately $1,147,000. Sei Investments Co. grew its stake in 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 acquiring an additional 26,031 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in WPP during the 1st quarter worth approximately $609,000. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Company Profile

WPP plc is a global marketing and communications company headquartered in London, United Kingdom. It provides advertising, branding, public relations, media investment, customer experience, commerce, data, and technology services to businesses and organizations around the world.

WPP operates through a portfolio of agencies and specialist businesses, including Ogilvy, VML, Burson, and WPP Media. Its services support clients across areas such as creative development, digital marketing, media planning and buying, public affairs, brand strategy, customer relationship management, and marketing technology.

The company traces its origins to Wire and Plastic Products, a British manufacturer acquired by Martin Sorrell in 1985.

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