WPP (NYSE:WPP) Sees Strong Trading Volume – Here’s What Happened

Shares of WPP plc (NYSE:WPP) saw unusually-strong trading volume on Tuesday . Approximately 326,520 shares traded hands during mid-day trading, an increase of 78% from the previous session’s volume of 182,955 shares.The stock last traded at $47.25 and had previously closed at $49.09.

Analysts Set New Price Targets

Separately, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

WPP Stock Down 1.5 %

The company’s fifty day moving average price is $53.00 and its two-hundred day moving average price is $50.04. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 8.03 and a beta of 1.27.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in shares of WPP during the 3rd quarter worth about $1,479,000. Sanctuary Advisors LLC raised its stake in WPP by 45.7% in the third quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider’s stock valued at $335,000 after buying an additional 2,007 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of WPP by 15.9% in the second quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock valued at $9,115,000 after buying an additional 27,384 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of WPP by 9.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider’s stock worth $1,592,000 after acquiring an additional 2,862 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of WPP by 72.0% during the 2nd quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock worth $9,247,000 after acquiring an additional 80,102 shares during the period. 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.