WPP (NYSE:WPP) Trading 5.2% Higher – Should You Buy?

Shares of Wpp Plc (NYSE:WPP) shot up 5.2% during mid-day trading on Friday . The company traded as high as $18.17 and last traded at $18.2380. 188,517 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 578,740 shares. The stock had previously closed at $17.34.

Wall Street Analysts Forecast Growth

WPP has been the subject of several research reports. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Berenberg Bank initiated coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on WPP in a research report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Finally, Citigroup reissued a “neutral” rating on shares of WPP in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

WPP Price Performance

The stock’s 50-day moving average is $17.92 and its two-hundred day moving average is $18.50. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Institutional Investors Weigh In On WPP

Several large investors have recently added to or reduced their stakes in WPP. Legacy Wealth Asset Management LLC increased its position in shares of WPP by 6.4% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 1,146 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of WPP in the first quarter worth about $1,619,000. Arrowstreet Capital Limited Partnership acquired a new position in WPP in the 1st quarter worth about $609,000. Sei Investments Co. lifted its position in shares of WPP by 115.7% during the 1st quarter. Sei Investments Co. now owns 48,528 shares of the business services provider’s stock valued at $755,000 after buying an additional 26,031 shares in the last quarter. Finally, NewEdge Wealth LLC grew its position in shares of WPP by 68.8% in the first quarter. NewEdge Wealth LLC now owns 26,640 shares of the business services provider’s stock valued at $414,000 after purchasing an additional 10,862 shares during the period. 4.34% of the stock is 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.