WPP (NYSE:WPP) Shares Gap Up to $42.04

Shares of WPP plc (NYSE:WPPGet Rating) gapped up before the market opened on Tuesday . The stock had previously closed at $42.04, but opened at $43.50. WPP shares last traded at $42.73, with a volume of 800 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group lowered their price objective on WPP from GBX 1,500 ($18.12) to GBX 1,225 ($14.80) in a research report on Wednesday, July 20th. Morgan Stanley reduced their target price on WPP from GBX 850 ($10.27) to GBX 750 ($9.06) in a report on Thursday, July 7th. JPMorgan Chase & Co. reduced their target price on WPP from GBX 1,330 ($16.07) to GBX 1,260 ($15.22) in a report on Tuesday, July 19th. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a report on Tuesday, May 17th. Finally, Macquarie lowered WPP from an “outperform” rating to a “neutral” rating in a report on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $958.33.

WPP Trading Up 0.7 %

The stock has a 50 day moving average price of $49.34 and a 200 day moving average price of $51.20. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.93 and a current ratio of 0.91.

WPP Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th will be paid a dividend of $0.9052 per share. This represents a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, October 13th.

Institutional Trading of WPP

A number of hedge funds have recently made changes to their positions in the company. Mondrian Investment Partners LTD raised its position in shares of WPP by 20.7% during the second quarter. Mondrian Investment Partners LTD now owns 829,728 shares of the business services provider’s stock worth $41,976,000 after acquiring an additional 142,134 shares during the last quarter. Optiver Holding B.V. increased its holdings in WPP by 684.3% in the second quarter. Optiver Holding B.V. now owns 102,324 shares of the business services provider’s stock worth $5,177,000 after purchasing an additional 89,278 shares in the last quarter. Aaron Wealth Advisors LLC bought a new stake in WPP in the first quarter worth approximately $1,163,000. Goldman Sachs Group Inc. increased its holdings in WPP by 8.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 716,141 shares of the business services provider’s stock worth $54,104,000 after purchasing an additional 53,544 shares in the last quarter. Finally, Capital International Investors increased its holdings in WPP by 90.6% in the fourth quarter. Capital International Investors now owns 109,899 shares of the business services provider’s stock worth $8,319,000 after purchasing an additional 52,246 shares in the last quarter. 4.01% of the stock is owned by institutional investors and hedge funds.

About WPP

(Get Rating)

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.

Further Reading

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