WPP plc (NYSE:WPP) Sees Large Decrease in Short Interest

WPP plc (NYSE:WPP) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 181,800 shares, a decrease of 36.2% from the September 15th total of 285,100 shares. Based on an average trading volume of 171,500 shares, the short-interest ratio is currently 1.1 days. Approximately 0.1% of the company’s stock are short sold.

WPP Trading Down 0.1 %

WPP stock traded down $0.06 during midday trading on Monday, reaching $49.32. 61,883 shares of the stock traded hands, compared to its average volume of 163,268. The firm has a fifty day moving average price of $48.24 and a two-hundred day moving average price of $48.76. WPP has a fifty-two week low of $41.13 and a fifty-two week high of $54.21.

WPP Increases Dividend

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

Institutional Trading of WPP

Several hedge funds have recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD increased its holdings in shares of WPP by 46.5% during the first quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock valued at $158,791,000 after purchasing an additional 1,062,708 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of WPP by 40.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,648 shares of the business services provider’s stock worth $54,974,000 after acquiring an additional 332,914 shares during the period. Bank of Montreal Can boosted its holdings in shares of WPP by 72.0% in the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock valued at $9,247,000 after acquiring an additional 80,102 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of WPP by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock valued at $14,759,000 after acquiring an additional 63,363 shares during the period. Finally, Gilman Hill Asset Management LLC lifted its position in WPP by 188.2% in the first quarter. Gilman Hill Asset Management LLC now owns 72,351 shares of the business services provider’s stock worth $3,429,000 after purchasing an additional 47,249 shares during the period. Institutional investors own 4.34% of the company’s stock.

Analyst Upgrades and Downgrades

WPP has been the subject of several recent analyst reports. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a report on Sunday, September 8th. Citigroup raised WPP to a “strong-buy” rating in a report on Thursday, August 8th.

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.