Shares of WPP plc (NYSE:WPP – Get Free Report) saw unusually-high trading volume on Thursday . Approximately 312,987 shares were traded during trading, an increase of 81% from the previous session’s volume of 173,272 shares.The stock last traded at $49.88 and had previously closed at $50.25.
Analyst Ratings Changes
WPP has been the subject of several recent analyst reports. UBS Group downgraded WPP from a “buy” rating to a “sell” rating in a research note on Thursday, January 11th. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.00.
Check Out Our Latest Stock Analysis on WPP
WPP Stock Down 0.3 %
WPP Cuts Dividend
The business also recently announced a semi-annual dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 7th will be issued a $0.244 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a dividend yield of 5.3%.
Hedge Funds Weigh In On WPP
A number of hedge funds have recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. raised its holdings in shares of WPP by 1.4% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 17,344 shares of the business services provider’s stock worth $773,000 after buying an additional 240 shares in the last quarter. NewEdge Wealth LLC grew its position in WPP by 1.4% during the 3rd quarter. NewEdge Wealth LLC now owns 17,344 shares of the business services provider’s stock worth $773,000 after acquiring an additional 240 shares during the last quarter. Natixis Advisors L.P. grew its position in WPP by 0.4% during the 3rd quarter. Natixis Advisors L.P. now owns 66,272 shares of the business services provider’s stock worth $2,955,000 after acquiring an additional 268 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in WPP by 3.0% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 9,259 shares of the business services provider’s stock worth $440,000 after acquiring an additional 273 shares during the last quarter. Finally, CWM LLC grew its position in WPP by 48.2% during the 3rd quarter. CWM LLC now owns 864 shares of the business services provider’s stock worth $39,000 after acquiring an additional 281 shares during the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.
About WPP
WPP plc, a creative transformation company, provides communications, experience, commerce, and technology services in North America, the United Kingdom, Western Continental Europe, the Asia Pacific, Latin America, Africa, the Middle East, and Central and Eastern Europe. The company operates through three segments: Global Integrated Agencies, Public Relations, and Specialist Agencies.
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