WPP (NYSE:WPP) Sees Unusually-High Trading Volume - Time to Buy?

WPP plc (NYSE:WPP - Get Free Report) saw strong trading volume on Tuesday . 326,520 shares traded hands during trading, an increase of 78% from the previous session's volume of 182,955 shares.The stock last traded at $47.25 and had previously closed at $49.09.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of WPP from a "buy" rating to a "hold" rating in a research report on Monday, November 18th.

WPP Price Performance

The business has a 50 day simple moving average of $53.31 and a 200 day simple moving average of $50.07. The stock has a market cap of $10.05 billion, a PE ratio of 7.93, a P/E/G ratio of 8.03 and a beta of 1.27.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in WPP by 14.5% during the second quarter. Bank of New York Mellon Corp now owns 18,089 shares of the business services provider's stock worth $828,000 after purchasing an additional 2,286 shares during the period. Allspring Global Investments Holdings LLC grew its stake in WPP by 239.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,756 shares of the business services provider's stock valued at $126,000 after buying an additional 1,943 shares during the last quarter. Natixis Advisors LLC raised its holdings in WPP by 5.0% in the 2nd quarter. Natixis Advisors LLC now owns 62,632 shares of the business services provider's stock worth $2,867,000 after acquiring an additional 2,964 shares during the period. Caprock Group LLC acquired a new position in WPP during the 2nd quarter worth $294,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in WPP by 9.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider's stock valued at $1,592,000 after acquiring an additional 2,862 shares during the period. Institutional investors and hedge funds own 4.34% of the company's stock.

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.