WPP (NYSE:WPP) Sees Large Volume Increase - Still a Buy?

Key Points

• WPP PLC experienced a significant trading volume increase of 114% on Tuesday, with approximately 813,497 shares traded, closing at $22.75.
• Analysts have issued a mixed outlook on WPP, with one Buy rating, three Hold ratings, and two Sell ratings, resulting in a consensus rating of "Reduce."
• The company announced a semi-annual dividend of $0.5033 per share, yielding an impressive 447.0%, with the payout ratio currently at 16.25%.

Shares of WPP PLC (NYSE:WPP - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 813,497 shares changed hands during trading, an increase of 114% from the previous session's volume of 379,652 shares.The stock last traded at $22.75 and had previously closed at $22.69.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Wall Street Zen cut WPP from a "hold" rating to a "sell" rating in a research report on Sunday, September 21st. Weiss Ratings reissued a "sell (d+)" rating on shares of WPP in a report on Wednesday, October 8th. Finally, Barclays reaffirmed an "underweight" rating on shares of WPP in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

WPP Trading Up 0.4%

The firm has a 50 day moving average of $25.56 and a 200-day moving average of $31.94. The company has a market cap of $4.91 billion, a P/E ratio of 3.81 and a beta of 0.95.

WPP Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.5033 per share. This represents a yield of 447.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP's dividend payout ratio is currently 16.25%.

Institutional Trading of WPP

A number of hedge funds have recently modified their holdings of the stock. Assetmark Inc. lifted its position in shares of WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after acquiring an additional 467 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider's stock worth $49,000 after buying an additional 717 shares during the last quarter. Traub Capital Management LLC acquired a new stake in shares of WPP during the second quarter worth about $52,000. Brooklyn Investment Group raised its stake in WPP by 3,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock valued at $73,000 after acquiring an additional 1,863 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in WPP during the 1st quarter valued at approximately $75,000. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Company Profile

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.

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