WPP (NYSE:WPP) Stock Price Up 7.3% - Should You Buy?

Key Points

• WPP shares rose 7.3% to approximately $20.98, trading above both its 50-day and 200-day moving averages, although volume was 58% below the average session level.
• Analyst sentiment remains mixed: two analysts rate WPP a Buy, four rate it Hold and two rate it Sell, resulting in a consensus “Hold” rating.
• Institutional investors have generally increased their positions, but hedge funds and other institutions own only 4.34% of WPP. The company carries a debt-to-equity ratio of 1.48 and a current ratio of 0.89.

Wpp Plc (NYSE:WPP - Get Free Report) was up 7.3% on Tuesday . The company traded as high as $20.91 and last traded at $20.9750. Approximately 237,631 shares changed hands during trading, a decline of 58% from the average session volume of 561,976 shares. The stock had previously closed at $19.54.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WPP. Citigroup reissued a "neutral" rating on shares of WPP in a report on Thursday, April 30th. Berenberg Bank initiated coverage on shares of WPP in a research note on Tuesday, June 9th. They issued a "buy" rating for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of WPP in a report on Tuesday, June 16th. Rothschild & Co Redburn began coverage on WPP in a research note on Thursday, May 28th. They set a "buy" rating for the company. Finally, The Goldman Sachs Group began coverage on WPP in a research note on Wednesday, June 3rd. They issued a "sell" rating on the stock. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, WPP presently has a consensus rating of "Hold".

WPP Trading Up 8.6%

The firm has a 50-day simple moving average of $18.08 and a 200 day simple moving average of $18.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Institutional Trading of WPP

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in shares of WPP by 49.0% in 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 purchasing an additional 21,866 shares during the period. Cetera Investment Advisers increased its stake in WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider's stock valued at $272,000 after buying an additional 654 shares during the period. JPMorgan Chase & Co. raised its position in WPP by 58.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,397 shares of the business services provider's stock worth $224,000 after buying an additional 2,355 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of WPP by 99.4% during the second quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider's stock worth $82,000 after acquiring an additional 1,173 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in WPP in the 2nd quarter valued at approximately $407,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

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