WPP (NYSE:WPP) Shares Gap Up – Should You Buy?

Wpp Plc (NYSE:WPP)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $24.72, but opened at $25.89. WPP shares last traded at $25.6060, with a volume of 35,183 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WPP. Citigroup reaffirmed a “neutral” rating on shares of WPP in a research report on Monday, August 10th. Berenberg Bank assumed coverage on WPP in a report on Tuesday, June 9th. They issued a “buy” rating for the company. The Goldman Sachs Group started coverage on WPP in a research note on Wednesday, June 3rd. They issued a “sell” rating on the stock. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a report on Friday, September 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of WPP in a report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold”.

WPP Trading Up 2.0%

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 business’s 50-day simple moving average is $24.70 and its 200 day simple moving average is $20.03.

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. This is a drop from WPP’s previous dividend of $0.5079. This represents a dividend yield of 390.0%. The ex-dividend date is Friday, October 9th.

Hedge Funds Weigh In On WPP

Large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. lifted its holdings in WPP by 455.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after buying an additional 1,901 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of WPP by 195.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,348 shares of the business services provider’s stock worth $75,000 after buying an additional 2,214 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in WPP during the second quarter valued at approximately $176,000. Sanctuary Advisors LLC boosted its stake in WPP by 39.4% in the first quarter. Sanctuary Advisors LLC now owns 16,139 shares of the business services provider’s stock valued at $251,000 after acquiring an additional 4,562 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of WPP by 75.0% in the 1st quarter. Assetmark Inc. now owns 17,340 shares of the business services provider’s stock worth $270,000 after purchasing an additional 7,433 shares in the last quarter. Institutional investors own 4.34% of the company’s stock.

WPP Company Profile

WPP plc is a global marketing and communications company that provides advertising, media investment, public relations, branding, customer experience, and technology services. Through its agencies and specialist businesses, WPP helps organizations develop brands, create content, reach audiences, and use data and technology to support marketing and customer engagement.

The company’s portfolio includes agencies and platforms such as WPP Media, VML, Ogilvy, Burson, AKQA, GroupM, and WPP Open.