WPP plc (NYSE:WPP) Short Interest Update

WPP plc (NYSE:WPP) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 300,400 shares, a drop of 21.8% from the February 28th total of 384,100 shares. Based on an average trading volume of 241,000 shares, the short-interest ratio is presently 1.2 days. Currently, 0.1% of the company’s stock are short sold.

Analyst Ratings Changes

Several research analysts have weighed in on WPP shares. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 28th. Kepler Capital Markets upgraded 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 issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

WPP Price Performance

WPP stock traded up $1.31 on Wednesday, reaching $37.53. 602,484 shares of the company were exchanged, compared to its average volume of 195,871. The firm has a market capitalization of $8.10 billion, a PE ratio of 6.29, a PEG ratio of 7.06 and a beta of 1.20. WPP has a 12 month low of $34.62 and a 12 month high of $57.37. The stock’s fifty day moving average price is $44.01 and its 200 day moving average price is $48.89.

WPP Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.9728 per share. This represents a yield of 6.2%. This is an increase from WPP’s previous semi-annual dividend of $0.95. The ex-dividend date of this dividend is Friday, June 6th. WPP’s payout ratio is presently 8.04%.

Hedge Funds Weigh In On WPP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPP. Charles Schwab Investment Management Inc. increased its stake in shares of WPP by 20.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,981 shares of the business services provider’s stock valued at $818,000 after buying an additional 2,688 shares in the last quarter. Cerity Partners LLC increased its position in WPP by 34.3% in the 3rd quarter. Cerity Partners LLC now owns 13,504 shares of the business services provider’s stock valued at $691,000 after acquiring an additional 3,452 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of WPP by 2.8% during the third quarter. Hantz Financial Services Inc. now owns 41,755 shares of the business services provider’s stock worth $2,136,000 after purchasing an additional 1,133 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of WPP by 22.5% during the third quarter. HighTower Advisors LLC now owns 19,658 shares of the business services provider’s stock valued at $1,001,000 after purchasing an additional 3,615 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of WPP by 47.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock valued at $274,016,000 after purchasing an additional 1,734,750 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.