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

Key Points

• WPP shares moved above their 200-day moving average, reaching $25.36 compared with the $20.58 average, though the stock later traded down 1.8% near $24.91.
• Analyst sentiment remains mixed: three analysts rate WPP Buy, three Hold, and two Sell, resulting in an overall “Hold” consensus.
• WPP announced a slightly reduced dividend of $0.5052 per share, while institutional investors collectively own 4.34% of the company and several firms recently increased their stakes.

Wpp Plc (NYSE:WPP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $20.58 and traded as high as $25.36. WPP shares last traded at $24.9120, with a volume of 216,249 shares traded.

Analyst Ratings Changes

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

WPP Trading Down 1.8%

The stock has a fifty day simple moving average of $25.51 and a 200-day simple moving average of $20.58.

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 given a dividend of $0.5052 per share. This is a drop from WPP's previous dividend of $0.5079. The ex-dividend date of this dividend is Friday, October 9th. This represents a dividend yield of 398.0%.

Institutional Investors Weigh In On WPP

Institutional investors have recently added to or reduced their stakes in the business. Legacy Wealth Asset Management LLC boosted its holdings in WPP by 2.6% in the third quarter. Legacy Wealth Asset Management LLC now owns 19,476 shares of the business services provider's stock valued at $481,000 after purchasing an additional 488 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in WPP by 455.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider's stock valued at $52,000 after purchasing an additional 1,901 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in WPP by 397.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,637 shares of the business services provider's stock worth $127,000 after purchasing an additional 4,503 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in WPP by 39.4% during the first quarter. Sanctuary Advisors LLC now owns 16,139 shares of the business services provider's stock worth $251,000 after purchasing an additional 4,562 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in WPP by 29.6% during the second quarter. Squarepoint Ops LLC now owns 26,001 shares of the business services provider's stock worth $403,000 after purchasing an additional 5,933 shares in the last quarter. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.