WPP (NYSE:WPP) Trading 5.2% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WPP. Citigroup reissued a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Berenberg Bank initiated coverage on shares of WPP in a research note on Tuesday, June 9th. They set a “buy” rating on the stock. The Goldman Sachs Group started coverage on shares of WPP in a report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

WPP Stock Performance

The stock’s fifty day moving average is $17.93 and its two-hundred day moving average is $18.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89.

Hedge Funds Weigh In On WPP

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legacy Wealth Asset Management LLC increased its position in WPP by 6.4% in 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 acquiring an additional 1,146 shares during the period. Renaissance Technologies LLC bought a new position in shares of WPP in the first quarter worth $1,619,000. Arrowstreet Capital Limited Partnership bought a new position in shares of WPP in the first quarter worth $609,000. Sei Investments Co. raised its stake in shares of WPP by 115.7% during the first quarter. Sei Investments Co. now owns 48,528 shares of the business services provider’s stock valued at $755,000 after purchasing an additional 26,031 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its holdings in WPP by 68.8% in the first quarter. NewEdge Wealth LLC now owns 26,640 shares of the business services provider’s stock worth $414,000 after purchasing an additional 10,862 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.