WPP (NYSE:WPP) Sees Unusually-High Trading Volume – Here’s What Happened

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Rothschild & Co Redburn began coverage on WPP in a research note on Thursday, May 28th. They issued a “buy” rating for the company. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Citigroup reissued a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

WPP Stock Performance

The business’s 50-day moving average is $18.18 and its two-hundred day moving average is $18.91. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WPP. M&T Bank Corp grew its position in WPP by 344.9% during the 4th quarter. M&T Bank Corp now owns 52,491 shares of the business services provider’s stock worth $1,179,000 after acquiring an additional 40,693 shares during the last quarter. Mondrian Investment Partners LTD raised its position in WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock valued at $72,775,000 after purchasing an additional 48,714 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of WPP during the fourth quarter valued at about $5,199,000. K.J. Harrison & Partners Inc bought a new stake in shares of WPP during the fourth quarter worth about $1,123,000. Finally, Evergreen Capital Management LLC grew its holdings in shares of WPP by 37.1% during the fourth quarter. Evergreen Capital Management LLC now owns 14,671 shares of the business services provider’s stock worth $330,000 after purchasing an additional 3,970 shares during the last quarter. 4.34% of the stock is currently owned by institutional investors.

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.