WPP (NYSE:WPP) Sees Unusually-High Trading Volume – Should You Buy?

Wpp Plc (NYSE:WPP) shares saw unusually-strong trading volume on Tuesday . 1,157,588 shares traded hands during 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.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Rothschild & Co Redburn initiated coverage on WPP in a research note on Thursday, May 28th. They issued a “buy” rating for the company. The Goldman Sachs Group initiated coverage on WPP in a research report on Wednesday, June 3rd. They set a “sell” rating for the company. Berenberg Bank assumed coverage on WPP in a research note on Tuesday, June 9th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

WPP Trading Down 7.2%

The firm’s fifty day moving average price is $18.18 and its two-hundred day moving average price is $18.91. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in WPP by 38.9% during the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 519 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after acquiring an additional 654 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after acquiring an additional 717 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of WPP by 6.0% in the third quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock valued at $343,000 after purchasing an additional 776 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of WPP by 185.0% in the fourth 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 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.