WPP (NYSE:WPP) Sees Strong Trading Volume – Time to Buy?

WPP plc (NYSE:WPP) saw an uptick in trading volume on Thursday . 633,499 shares changed hands during trading, an increase of 220% from the previous session’s volume of 198,099 shares.The stock last traded at $37.08 and had previously closed at $37.53.

Wall Street Analysts Forecast Growth

WPP has been the topic of a number of recent research reports. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. The Goldman Sachs Group initiated coverage on shares of WPP in a research note on Wednesday, March 26th. They set a “neutral” rating on the stock. Finally, Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, WPP currently has a consensus rating of “Moderate Buy”.

WPP Price Performance

The company has a 50-day moving average of $43.47 and a two-hundred day moving average of $48.62. The stock has a market capitalization of $7.50 billion, a PE ratio of 5.82, a P/E/G ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.9728 per share. This is a positive change from WPP’s previous semi-annual dividend of $0.95. This represents a dividend yield of 6.2%. The ex-dividend date is Friday, June 6th. WPP’s dividend payout ratio is presently 8.04%.

Institutional Investors Weigh In On WPP

A number of institutional investors have recently bought and sold shares of WPP. Assetmark Inc. boosted its holdings in shares of WPP by 52,800.0% in the 4th quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 528 shares during the last quarter. Smartleaf Asset Management LLC grew its position in WPP by 453.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after acquiring an additional 966 shares during the period. GAMMA Investing LLC grew its holdings in shares of WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after purchasing an additional 599 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in WPP during the 3rd quarter worth approximately $84,000. Finally, Russell Investments Group Ltd. raised its holdings in WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock valued at $111,000 after buying an additional 787 shares during the period. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

WPP Company Profile

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.