WPP (NYSE:WPP) Shares Gap Up – What’s Next?

Shares of Wpp Plc (NYSE:WPP) gapped up prior to trading on Tuesday . The stock had previously closed at $16.20, but opened at $16.88. WPP shares last traded at $16.61, with a volume of 90,141 shares.

Wall Street Analyst Weigh In

WPP has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of WPP in a research report on Monday, January 12th. They issued a “neutral” rating for the company. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

WPP Trading Up 2.5%

The business’s fifty day moving average price is $17.29 and its two-hundred day moving average price is $20.23. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

WPP Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, July 6th. Stockholders of record on Friday, June 5th will be issued a dividend of $0.5079 per share. The ex-dividend date is Friday, June 5th. This represents a dividend yield of 616.0%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP during the 3rd quarter valued at $28,000. GAMMA Investing LLC grew its stake in 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 buying an additional 814 shares during the last quarter. Osaic Holdings Inc. grew its stake in WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after buying an additional 717 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in WPP by 323.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after buying an additional 1,111 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in WPP by 1,279.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after buying an additional 1,689 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

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.