WPP (NYSE:WPP) Sees Strong Trading Volume - Here's What Happened

WPP plc (NYSE:WPP - Get Free Report) saw strong trading volume on Thursday . 633,499 shares traded 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.

Analysts Set New Price Targets

Several brokerages have commented on WPP. Barclays lowered shares of WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. Kepler Capital Markets upgraded WPP from a "hold" rating to a "buy" rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group initiated coverage on WPP in a report on Wednesday, March 26th. They issued a "neutral" rating for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, WPP has a consensus rating of "Moderate Buy".

WPP Price Performance

The stock's 50 day simple moving average is $42.62 and its two-hundred day simple moving average is $48.24. The firm has a market cap of $6.90 billion, a P/E ratio of 5.36, a P/E/G ratio of 7.06 and a beta of 1.06.

WPP Increases Dividend

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

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Institutional Investors Weigh In On WPP

A number of institutional investors have recently modified their holdings of WPP. GAMMA Investing LLC boosted its stake in WPP by 323.1% in the 1st quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock worth $200,000 after purchasing an additional 4,029 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of WPP in the fourth quarter worth approximately $962,000. Quantinno Capital Management LP grew its holdings in shares of WPP by 55.8% during the fourth quarter. Quantinno Capital Management LP now owns 54,443 shares of the business services provider's stock valued at $2,798,000 after buying an additional 19,493 shares during the last quarter. Mork Capital Management LLC bought a new stake in shares of WPP during the fourth quarter valued at approximately $987,000. Finally, Graham Capital Management L.P. purchased a new position in WPP in the 4th quarter worth approximately $872,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

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.