WPP (NYSE:WPP) Sees Large Volume Increase – Still a Buy?

WPP plc (NYSE:WPP) saw unusually-high trading volume on Thursday . Approximately 633,499 shares were traded during trading, an increase of 220% from the previous session’s volume of 198,099 shares.The stock last traded at $37.08 and had previously closed at $37.53.

Wall Street Analysts Forecast Growth

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

WPP Trading Down 5.2 %

The firm has a market cap of $7.50 billion, a PE ratio of 5.82, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20. The company has a 50 day moving average price of $43.47 and a 200 day moving average price of $48.62.

WPP Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. increased its holdings 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 acquiring an additional 528 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 966 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after purchasing an additional 599 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of WPP during the 3rd quarter worth approximately $84,000. Finally, Russell Investments Group Ltd. lifted 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 valued at $111,000 after buying an additional 787 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

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.