WPP plc (NYSE:WPP) Short Interest Update

WPP plc (NYSE:WPP) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 300,400 shares, a drop of 21.8% from the February 28th total of 384,100 shares. Based on an average trading volume of 241,000 shares, the short-interest ratio is presently 1.2 days. Currently, 0.1% of the company’s stock are sold short.

WPP Stock Down 4.4 %

NYSE WPP traded down $1.68 on Tuesday, hitting $36.29. The stock had a trading volume of 768,657 shares, compared to its average volume of 194,250. The company’s 50-day moving average is $44.01 and its two-hundred day moving average is $48.89. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 6.08, a P/E/G ratio of 7.06 and a beta of 1.20. WPP has a one year low of $34.65 and a one year high of $57.37.

WPP Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group began coverage on shares of WPP in a research report on Wednesday, March 26th. They set a “neutral” rating on the stock. Kepler Capital Markets upgraded shares of WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. Finally, Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On WPP

Several institutional investors have recently bought and sold shares of WPP. Assetmark Inc. boosted its stake in WPP by 52,800.0% during the 4th quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 528 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of WPP by 453.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after acquiring an additional 966 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of WPP by 92.4% in the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after acquiring an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of WPP during the third quarter worth $84,000. Finally, Russell Investments Group Ltd. increased its stake in WPP by 57.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock worth $111,000 after purchasing an additional 787 shares in the last quarter. 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.