Short Interest in Wpp Plc (NYSE:WPP) Expands By 28.5%
Wpp Plc (NYSE:WPP) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 398,100 shares, an increase of 28.5% from the September 30th total of 309,900 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 151,600 shares, the short-interest ratio is presently 2.6 days.
Large investors have recently made changes to their positions in the stock. Quest Capital Management Inc. ADV bought a new stake in WPP during the third quarter worth approximately $27,000. Nkcfo LLC bought a new stake in WPP during the second quarter worth approximately $44,000. Bogart Wealth LLC bought a new stake in WPP during the third quarter worth approximately $63,000. Signaturefd LLC raised its holdings in WPP by 11.9% during the second quarter. Signaturefd LLC now owns 1,715 shares of the business services provider’s stock worth $108,000 after purchasing an additional 183 shares in the last quarter. Finally, Semmax Financial Advisors Inc. raised its holdings in WPP by 83.6% during the second quarter. Semmax Financial Advisors Inc. now owns 2,113 shares of the business services provider’s stock worth $133,000 after purchasing an additional 962 shares in the last quarter. 3.93% of the stock is currently owned by hedge funds and other institutional investors.
WPP has been the topic of a number of recent analyst reports. Deutsche Bank reaffirmed a “buy” rating and set a $1,090.00 price target on shares of WPP in a report on Thursday, October 17th. Goldman Sachs Group cut their price target on WPP from $1,200.00 to $1,160.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Shore Capital reissued a “buy” rating on shares of WPP in a report on Friday, October 25th. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Finally, Zacks Investment Research reissued a “buy” rating and set a $68.00 target price on shares of WPP in a report on Saturday, October 19th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $884.60.
WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
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