WPP plc (NYSE:WPP) Short Interest Update

WPP plc (NYSE:WPP) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 300,400 shares, a decrease of 21.8% from the February 28th total of 384,100 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 241,000 shares, the days-to-cover ratio is presently 1.2 days.

WPP Price Performance

WPP stock traded down $0.46 during trading hours on Monday, hitting $37.97. The company had a trading volume of 429,616 shares, compared to its average volume of 191,407. The firm has a 50-day moving average of $44.34 and a 200 day moving average of $49.05. The firm has a market cap of $8.19 billion, a PE ratio of 6.36, a PEG ratio of 7.06 and a beta of 1.20. WPP has a one year low of $37.30 and a one year high of $57.37.

WPP Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.9728 per share. The ex-dividend date is Friday, June 6th. This represents a dividend yield of 6.2%. This is a positive change from WPP’s previous semi-annual dividend of $0.95. WPP’s dividend payout ratio (DPR) is 8.04%.

Institutional Trading of WPP

Several institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after buying an additional 528 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in WPP by 453.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 966 shares during the period. GAMMA Investing LLC grew its position in shares of WPP by 92.4% during the 4th quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after purchasing an additional 599 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of WPP during the third quarter worth approximately $84,000. Finally, Russell Investments Group Ltd. raised its position in shares of WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock valued at $111,000 after buying an additional 787 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPP has been the subject of a number of research analyst reports. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group began coverage on WPP in a report on Wednesday, March 26th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, WPP has a consensus rating of “Moderate Buy”.

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.