Wpp Plc (NYSE:WPP – Get Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $24.07, but opened at $25.84. WPP shares last traded at $25.8850, with a volume of 83,485 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Rothschild & Co Redburn initiated coverage on WPP in a research report on Thursday, May 28th. They set a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on WPP in a report on Wednesday, June 3rd. They issued a “sell” rating for the company. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Berenberg Bank started coverage on WPP in a report on Tuesday, June 9th. They set a “buy” rating on the stock. Finally, Citigroup restated a “neutral” rating on shares of WPP in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.
View Our Latest Stock Report on WPP
WPP Price Performance
WPP Cuts Dividend
The company also recently declared a dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be paid a dividend of $0.5052 per share. This represents a yield of 390.0%. The ex-dividend date is Friday, October 9th.
Institutional Trading of WPP
Large investors have recently made changes to their positions in the business. Cetera Investment Advisers increased its holdings in shares of WPP by 9.2% during the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 654 shares in the last quarter. Osaic Holdings Inc. increased its holdings in WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after buying an additional 717 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of WPP by 6.0% in the third quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock worth $343,000 after acquiring an additional 776 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP in the third quarter worth about $28,000. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of WPP by 6.4% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider’s stock worth $294,000 after acquiring an additional 1,146 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.
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