Wpp Plc (NYSE:WPP) Short Interest Update

Wpp Plc (NYSE:WPP) was the target of a large decrease in short interest in March. As of March 13th, there was short interest totaling 2,918,695 shares, a decrease of 19.8% from the February 26th total of 3,637,324 shares. Based on an average daily trading volume, of 655,147 shares, the short-interest ratio is presently 4.5 days. Approximately 1.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

WPP has been the topic of several research analyst reports. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Barclays raised WPP from an “underweight” rating to an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research note on Wednesday, January 21st. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

WPP Stock Up 0.1%

Shares of NYSE WPP opened at $15.35 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.48. WPP has a twelve month low of $14.81 and a twelve month high of $40.94. The business has a fifty day simple moving average of $18.13 and a two-hundred day simple moving average of $20.76.

Institutional Trading of WPP

Hedge funds have recently added to or reduced their stakes in the company. Mondrian Investment Partners LTD acquired a new position in WPP during the third quarter worth $79,947,000. Bank of Montreal Can boosted its holdings in WPP by 385.3% in the 4th quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock worth $10,134,000 after buying an additional 358,218 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of WPP by 1,082.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock valued at $5,714,000 after acquiring an additional 232,878 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of WPP in the fourth quarter worth approximately $5,199,000. Finally, Tower Research Capital LLC TRC increased its position in shares of WPP by 3,840.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 132,680 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Company Profile

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.