WPP (NYSE:WPP) Sees Large Volume Increase – Here’s What Happened

WPP plc (NYSE:WPP) saw strong trading volume on Friday . 87,851 shares were traded during trading, a decline of 46% from the previous session’s volume of 161,545 shares.The stock last traded at $53.52 and had previously closed at $53.38.

Analysts Set New Price Targets

A number of research firms recently weighed in on WPP. Citigroup raised shares of WPP to a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th.

WPP Trading Down 0.4 %

The company has a 50-day moving average price of $49.28 and a two-hundred day moving average price of $48.96.

WPP Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, November 1st. Stockholders 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 boost from WPP’s previous Semi-Annual dividend of $0.24.

Hedge Funds Weigh In On WPP

Several institutional investors have recently bought and sold shares of WPP. GAMMA Investing LLC boosted its position in WPP by 45.3% during the third quarter. GAMMA Investing LLC now owns 648 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of WPP by 767.1% in the second quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 652 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of WPP in the 1st quarter valued at $39,000. EverSource Wealth Advisors LLC boosted its position in WPP by 62.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock worth $66,000 after purchasing an additional 505 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in WPP in the second quarter valued at approximately $80,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

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.