WPP (NYSE:WPP) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Wpp Plc (NYSE:WPP) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $20.58 and traded as high as $25.36. WPP shares last traded at $24.9120, with a volume of 216,249 shares.

Analyst Ratings Changes

Several brokerages have commented on WPP. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a report on Friday, September 11th. Citigroup restated a “neutral” rating on shares of WPP in a research report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of WPP in a research note on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold”.

WPP Trading Down 1.3%

The company’s fifty day simple moving average is $25.61 and its 200-day simple moving average is $20.65.

WPP Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.5052 per share. This is a drop from WPP’s previous dividend of $0.5079. The ex-dividend date is Friday, October 9th. This represents a dividend yield of 398.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WPP. Renaissance Technologies LLC acquired a new stake in shares of WPP in the first quarter worth approximately $1,619,000. Range Financial Group LLC purchased a new stake in shares of WPP during the first quarter worth approximately $1,147,000. Sei Investments Co. increased its position in shares of WPP by 115.7% during the first quarter. Sei Investments Co. now owns 48,528 shares of the business services provider’s stock worth $755,000 after purchasing an additional 26,031 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of WPP during the first quarter worth approximately $609,000. Finally, Barometer Capital Management Inc. acquired a new position in WPP in the 1st quarter valued at $535,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

WPP plc is a global marketing and communications company that provides advertising, media investment, public relations, branding, customer experience, and technology services. Through its agencies and specialist businesses, WPP helps organizations develop brands, create content, reach audiences, and use data and technology to support marketing and customer engagement.

The company’s portfolio includes agencies and platforms such as WPP Media, VML, Ogilvy, Burson, AKQA, GroupM, and WPP Open.