WPP (NYSE:WPP) Sees Strong Trading Volume

Shares of WPP plc (NYSE:WPP) saw unusually-high trading volume on Monday . Approximately 330,510 shares traded hands during mid-day trading, an increase of 119% from the previous session’s volume of 150,828 shares.The stock last traded at $47.75 and had previously closed at $47.49.

Analyst Ratings Changes

WPP has been the subject of several analyst reports. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. UBS Group cut shares of WPP from a “buy” rating to a “sell” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.00.

WPP Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98. The stock’s 50-day simple moving average is $46.78 and its 200 day simple moving average is $46.08.

WPP Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 7th will be given a dividend of $0.244 per share. The ex-dividend date is Friday, June 7th. This represents a yield of 5.3%.

Hedge Funds Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of WPP by 3.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 27,982 shares of the business services provider’s stock valued at $1,832,000 after acquiring an additional 963 shares during the period. American Century Companies Inc. boosted its position in shares of WPP by 67.6% in the first quarter. American Century Companies Inc. now owns 14,658 shares of the business services provider’s stock valued at $960,000 after acquiring an additional 5,913 shares during the period. Citigroup Inc. boosted its position in shares of WPP by 12.4% in the first quarter. Citigroup Inc. now owns 6,060 shares of the business services provider’s stock valued at $397,000 after acquiring an additional 668 shares during the period. Sei Investments Co. boosted its position in shares of WPP by 9.8% in the first quarter. Sei Investments Co. now owns 3,811 shares of the business services provider’s stock valued at $250,000 after acquiring an additional 340 shares during the period. Finally, Mariner LLC boosted its position in shares of WPP by 12.3% in the first quarter. Mariner LLC now owns 17,421 shares of the business services provider’s stock valued at $1,140,000 after acquiring an additional 1,909 shares during the period. 4.34% of the stock is owned by institutional investors.

WPP Company Profile

WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.