WPP (NYSE:WPP) Sees Strong Trading Volume – Here’s What Happened

Wpp Plc (NYSE:WPP) shares saw unusually-strong trading volume on Tuesday . Approximately 1,157,588 shares traded hands during mid-day trading, an increase of 104% from the previous session’s volume of 568,072 shares.The stock last traded at $17.2550 and had previously closed at $18.03.

Analyst Ratings Changes

Several research firms recently weighed in on WPP. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th. The Goldman Sachs Group assumed coverage on shares of WPP in a research report on Wednesday, June 3rd. They set a “sell” rating on the stock. Finally, Citigroup reissued a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, WPP has an average rating of “Hold”.

WPP Stock Down 2.1%

The company’s fifty day moving average price is $18.17 and its two-hundred day moving average price is $18.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.48.

Hedge Funds Weigh In On WPP

A number of large investors have recently added to or reduced their stakes in WPP. GAMMA Investing LLC raised its stake in shares of WPP by 185.0% in the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 814 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP during the third quarter worth about $28,000. Global Retirement Partners LLC grew its holdings in shares of WPP by 1,279.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after buying an additional 1,689 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of WPP by 184.5% during the fourth 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 in the last quarter. Finally, Allworth Financial LP raised its position in WPP by 38.9% in the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock valued at $46,000 after buying an additional 519 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

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.