Wpp Plc (NYSE:WPP) Sees Large Increase in Short Interest

Wpp Plc (NYSE:WPP) was the recipient of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,259,235 shares, an increase of 21.4% from the January 15th total of 1,860,967 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 380,383 shares, the short-interest ratio is presently 5.9 days. Based on an average trading volume of 380,383 shares, the short-interest ratio is presently 5.9 days. Approximately 1.1% of the shares of the stock are short sold.

Institutional Trading of WPP

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after purchasing an additional 814 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in WPP in the 3rd quarter valued at about $28,000. SBI Securities Co. Ltd. raised its position in shares of WPP by 323.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after buying an additional 1,111 shares in the last quarter. Global Retirement Partners LLC lifted its position in WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after purchasing an additional 1,689 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in WPP by 184.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after buying an additional 1,225 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Trading Down 5.4%

WPP traded down $1.02 on Tuesday, hitting $17.74. 293,964 shares of the company were exchanged, compared to its average volume of 543,747. WPP has a fifty-two week low of $17.25 and a fifty-two week high of $49.05. The business’s fifty day moving average is $21.26 and its 200 day moving average is $22.67.

Analysts Set New Price Targets

Several research firms have recently issued reports on WPP. Citigroup initiated 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 reaffirmed a “sell (d+)” rating on shares of WPP in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a research note on Sunday, February 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

About WPP

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.