WPP (NYSE:WPP) Trading Up 7.3% – Should You Buy?

Wpp Plc (NYSE:WPP)’s stock price rose 7.3% during mid-day trading on Tuesday . The stock traded as high as $20.91 and last traded at $20.9750. Approximately 237,631 shares were traded during mid-day trading, a decline of 58% from the average session volume of 561,976 shares. The stock had previously closed at $19.54.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Citigroup reiterated a “neutral” rating on shares of WPP in a research report on Thursday, April 30th. The Goldman Sachs Group initiated coverage on WPP in a report on Wednesday, June 3rd. They set a “sell” rating on the stock. Rothschild & Co Redburn began coverage on WPP in a research report on Thursday, May 28th. They issued a “buy” rating for the company. Finally, Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, WPP presently has an average rating of “Hold”.

WPP Trading Down 5.4%

The stock has a 50 day moving average price of $18.20 and a 200-day moving average price of $18.16. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Hedge Funds Weigh In On WPP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in WPP in the third quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in shares of WPP by 185.0% in the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after purchasing an additional 814 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after buying an additional 717 shares during the period. Global Retirement Partners LLC increased its stake in shares of WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after buying an additional 1,689 shares during the period. Finally, Allworth Financial LP raised its holdings in WPP by 38.9% during the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock valued at $46,000 after buying an additional 519 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.