WPP (NYSE:WPP) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Wpp Plc (NYSE:WPP) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.41 and traded as high as $26.10. WPP shares last traded at $25.8480, with a volume of 200,331 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Rothschild & Co Redburn assumed coverage on shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating on the stock. The Goldman Sachs Group began coverage on WPP in a report on Wednesday, June 3rd. They set a “sell” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of WPP in a research report on Monday, August 10th. Berenberg Bank initiated coverage on WPP in a report on Tuesday, June 9th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research report on Friday, September 11th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

WPP Price Performance

The company’s 50 day simple moving average is $23.32 and its two-hundred day simple moving average is $19.45. The company has a quick ratio of 0.89, a current ratio of 0.87 and a debt-to-equity ratio of 1.39.

WPP Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be given a $0.5052 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a dividend yield of 390.0%.

Institutional Investors Weigh In On WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Legacy Wealth Asset Management LLC lifted its position in WPP by 6.4% during the second quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 1,146 shares during the period. Rockefeller Capital Management L.P. grew its position in WPP by 455.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after purchasing an additional 1,901 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of WPP by 195.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,348 shares of the business services provider’s stock valued at $75,000 after buying an additional 2,214 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of WPP by 39.4% in the 1st quarter. Sanctuary Advisors LLC now owns 16,139 shares of the business services provider’s stock valued at $251,000 after buying an additional 4,562 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in shares of WPP by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 26,001 shares of the business services provider’s stock valued at $403,000 after buying an additional 5,933 shares during the period. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

WPP Company Profile

WPP plc is a global marketing and communications company headquartered in London, United Kingdom. It provides advertising, branding, public relations, media investment, customer experience, commerce, data, and technology services to businesses and organizations around the world.

WPP operates through a portfolio of agencies and specialist businesses, including Ogilvy, VML, Burson, and WPP Media. Its services support clients across areas such as creative development, digital marketing, media planning and buying, public affairs, brand strategy, customer relationship management, and marketing technology.

The company traces its origins to Wire and Plastic Products, a British manufacturer acquired by Martin Sorrell in 1985.