WPP (NYSE:WPP) Sees Strong Trading Volume

Shares of WPP plc (NYSE:WPP) saw unusually-high trading volume on Wednesday . Approximately 394,807 shares changed hands during mid-day trading, an increase of 137% from the previous session’s volume of 166,369 shares.The stock last traded at $46.45 and had previously closed at $46.49.

Analyst Upgrades and Downgrades

WPP has been the topic of a number of research analyst reports. Citigroup upgraded shares of WPP to a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com upgraded shares of WPP from a “hold” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.00.

WPP Trading Down 1.7 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a 50 day moving average price of $46.73 and a 200 day moving average price of $47.95.

WPP Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be given a $0.954 dividend. This represents a dividend yield of 5.7%. The ex-dividend date is Friday, October 11th. This is a positive change from WPP’s previous Semi-Annual dividend of $0.24.

Hedge Funds Weigh In On WPP

A number of hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in WPP in the second quarter valued at $201,000. Brandes Investment Partners LP lifted its holdings in shares of WPP by 7.0% in the 2nd quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after purchasing an additional 42,690 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in WPP by 6.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,520 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 606 shares during the period. Creative Planning increased its stake in WPP by 20.1% during the 2nd quarter. Creative Planning now owns 24,431 shares of the business services provider’s stock valued at $1,118,000 after purchasing an additional 4,086 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of WPP in the second quarter valued at $283,000. 4.34% of the stock is currently owned by institutional investors.

WPP Company Profile

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.