WPP plc (NYSE:WPP) Sees Large Decline in Short Interest

WPP plc (NYSE:WPP - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 540,200 shares, a decline of 35.4% from the April 30th total of 836,300 shares. Approximately 0.3% of the company's stock are short sold. Based on an average daily volume of 359,700 shares, the days-to-cover ratio is currently 1.5 days.

WPP Price Performance

Shares of WPP stock traded down $1.08 during trading on Monday, reaching $39.33. 183,159 shares of the stock traded hands, compared to its average volume of 217,330. The business has a fifty day simple moving average of $37.74 and a two-hundred day simple moving average of $44.46. WPP has a 52-week low of $31.52 and a 52-week high of $57.37. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 6.59, a P/E/G ratio of 7.06 and a beta of 1.04.

Institutional Trading of WPP

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its position in shares of WPP by 49.0% during the first quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider's stock valued at $2,523,000 after buying an additional 21,866 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in WPP in the 1st quarter worth $327,000. Graham Capital Management L.P. increased its holdings in WPP by 82.2% in the 1st quarter. Graham Capital Management L.P. now owns 30,916 shares of the business services provider's stock worth $1,174,000 after acquiring an additional 13,949 shares in the last quarter. Vident Advisory LLC boosted its stake in WPP by 8.0% during the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider's stock worth $235,000 after purchasing an additional 459 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in WPP by 604.0% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 33,708 shares of the business services provider's stock valued at $1,280,000 after acquiring an additional 28,920 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WPP shares. Barclays lowered shares of WPP from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 28th. The Goldman Sachs Group started coverage on shares of WPP in a research note on Wednesday, March 26th. They issued a "neutral" rating on the stock. Finally, Wall Street Zen cut shares of WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".

About WPP

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.