WPP (NYSE:WPP) Shares Gap Up – Should You Buy?

Wpp Plc (NYSE:WPP) gapped up prior to trading on Tuesday. The stock had previously closed at $24.87, but opened at $25.93. WPP shares last traded at $26.0520, with a volume of 35,121 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WPP. Weiss Ratings restated a “sell (d)” rating on shares of WPP in a research report on Friday, September 11th. Citigroup restated a “neutral” rating on shares of WPP in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of WPP in a research report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

WPP Trading Up 4.9%

The firm’s 50 day moving average is $25.51 and its two-hundred day moving average is $20.58.

WPP Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be paid a $0.5052 dividend. This represents a dividend yield of 398.0%. This is a negative change from WPP’s previous dividend of $0.5079. The ex-dividend date is Friday, October 9th.

Institutional Trading of WPP

Large investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its stake in shares of WPP by 455.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 1,901 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in WPP by 397.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,637 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 4,503 shares during the period. QRG Capital Management Inc. acquired a new position in WPP during the 2nd quarter worth $176,000. Sanctuary Advisors LLC grew its stake in WPP by 39.4% during the 1st quarter. Sanctuary Advisors LLC now owns 16,139 shares of the business services provider’s stock worth $251,000 after purchasing an additional 4,562 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in WPP by 75.0% during the 1st quarter. Assetmark Inc. now owns 17,340 shares of the business services provider’s stock worth $270,000 after purchasing an additional 7,433 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

About WPP

WPP plc is a global marketing and communications company that provides advertising, media investment, public relations, branding, customer experience, and technology services. Through its agencies and specialist businesses, WPP helps organizations develop brands, create content, reach audiences, and use data and technology to support marketing and customer engagement.

The company’s portfolio includes agencies and platforms such as WPP Media, VML, Ogilvy, Burson, AKQA, GroupM, and WPP Open.