WPP (NYSE:WPP) Stock Breaks Above 200-Day Moving Average – Time to Sell?

Wpp Plc (NYSE:WPP) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $21.04 and traded as high as $26.70. WPP shares last traded at $26.5650, with a volume of 326,290 shares.

Analysts Set New Price Targets

WPP has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of WPP in a report on Tuesday, September 8th. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a report on Friday, September 11th. Finally, Citigroup reissued a “neutral” rating on shares of WPP in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

WPP Stock Up 1.2%

The company’s fifty day moving average is $25.71 and its two-hundred day moving average is $21.19.

WPP Cuts Dividend

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

Institutional Investors Weigh In On WPP

Institutional investors have recently modified their holdings of the company. Range Financial Group LLC acquired a new position in shares of WPP during the first quarter worth $1,147,000. Renaissance Technologies LLC purchased a new position in WPP in the first quarter valued at $1,619,000. Arrowstreet Capital Limited Partnership acquired a new stake in WPP in the first quarter valued at $609,000. Barometer Capital Management Inc. acquired a new stake in WPP in the first quarter valued at $535,000. Finally, Engineers Gate Manager LP purchased a new stake in WPP during the 2nd quarter worth about $401,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

About WPP

WPP plc is a global marketing and communications services company headquartered in London. Through its agencies and specialist businesses, the company helps clients develop brands, create advertising campaigns, plan and buy media, manage customer relationships, and use data and technology to support marketing and business transformation.

WPP’s businesses provide creative services, media investment, public relations, branding, experience design, commerce, and digital marketing. Its operations include GroupM, a media investment business, as well as a broad network of agencies serving clients across sectors such as consumer goods, technology, financial services, healthcare, automotive, and retail.

The company traces its origins to Wire and Plastic Products, which was established in 1971 and later transformed into a marketing services group through acquisitions and international expansion.