Wpp Plc (NYSE:WPP) Short Interest Update

Key Points

• Short interest fell by 19.8% in March to 2,918,695 shares (about 1.4% of shares outstanding), with a short-interest ratio of 4.5 days.
• Analysts' consensus is a Hold (1 Buy, 4 Hold, 1 Sell) while several institutions materially increased or initiated positions, and the stock is trading near its 1-year low (~$15.35) below both its 50- and 200-day moving averages.

Wpp Plc (NYSE:WPP - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 2,918,695 shares, a decrease of 19.8% from the February 26th total of 3,637,324 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 655,147 shares, the short-interest ratio is currently 4.5 days.

WPP Trading Up 0.1%

WPP stock opened at $15.35 on Monday. WPP has a 1-year low of $14.81 and a 1-year high of $40.94. The business has a fifty day moving average price of $18.13 and a 200-day moving average price of $20.76. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Analysts Set New Price Targets

Several research analysts have commented on WPP shares. Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They issued a "neutral" rating for the company. Zacks Research upgraded WPP from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. Weiss Ratings reissued a "sell (d+)" rating on shares of WPP in a research note on Wednesday, January 21st. Barclays raised WPP from an "underweight" rating to an "equal weight" rating in a report on Friday, February 27th. Finally, Wall Street Zen upgraded shares of WPP from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, WPP presently has an average rating of "Hold".

Institutional Investors Weigh In On WPP

A number of hedge funds have recently added to or reduced their stakes in the stock. Mondrian Investment Partners LTD purchased a new stake in shares of WPP in the 3rd quarter worth $79,947,000. Bank of Montreal Can boosted its position in shares of WPP by 385.3% in the fourth quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider's stock worth $10,134,000 after purchasing an additional 358,218 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of WPP by 1,082.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider's stock worth $5,714,000 after purchasing an additional 232,878 shares during the period. ABC Arbitrage SA purchased a new stake in shares of WPP in the fourth quarter worth $5,199,000. Finally, Tower Research Capital LLC TRC raised its position in shares of WPP by 3,840.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider's stock valued at $3,058,000 after purchasing an additional 132,680 shares during the period. 4.34% of the stock is currently 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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