WPP (NYSE:WPP) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Wpp Plc (NYSE:WPP) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.93 and traded as high as $25.17. WPP shares last traded at $24.70, with a volume of 457,210 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup reissued a “neutral” rating on shares of WPP in a research report on Monday, August 10th. The Goldman Sachs Group initiated coverage on shares of WPP in a research report on Wednesday, June 3rd. They set a “sell” rating on the stock. Rothschild & Co Redburn started coverage on WPP in a report on Thursday, May 28th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Finally, Berenberg Bank began coverage on WPP in a report on Tuesday, June 9th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

WPP Trading Up 7.6%

The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. The company’s fifty day simple moving average is $21.58 and its 200-day simple moving average is $18.98.

WPP Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a dividend of $0.5052 per share. The ex-dividend date is Friday, October 9th. This represents a dividend yield of 390.0%.

Hedge Funds Weigh In On WPP

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in WPP during the third quarter worth $28,000. Global Retirement Partners LLC raised its position in shares of 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 worth $41,000 after acquiring an additional 1,689 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of WPP by 184.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after acquiring an additional 1,225 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of WPP by 455.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after purchasing an additional 1,901 shares during the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

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.