WPP (LON:WPP) Trading 8.8% Higher After Insider Buying Activity

WPP plc (LON:WPP)’s share price shot up 8.8% on Monday following insider buying activity. The stock traded as high as GBX 325.18 and last traded at GBX 313.67. 13,143,966 shares were traded during trading, an increase of 25% from the average session volume of 10,520,306 shares. The stock had previously closed at GBX 288.30.

Specifically, insider Cindy Rose bought 50,000 shares of WPP stock in a transaction dated Thursday, November 13th. The stock was acquired at an average cost of GBX 289 per share, with a total value of £144,500. Also, insider Philip Jansen purchased 50,000 shares of the stock in a transaction that occurred on Thursday, November 13th. The shares were bought at an average cost of GBX 285 per share, for a total transaction of £142,500.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their price objective on WPP from GBX 420 to GBX 360 and set a “neutral” rating for the company in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of GBX 360.

WPP Price Performance

The company has a market cap of £3.38 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 13.47 and a beta of 1.13. The company has a 50-day simple moving average of GBX 347.48 and a 200-day simple moving average of GBX 438.41. The company has a debt-to-equity ratio of 215.67, a quick ratio of 0.89 and a current ratio of 0.89.

About WPP

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

We are a world leader in marketing services, with deep AI, data and technology capabilities, global presence and unrivalled creative talent.