WPP (NYSE:WPP) Shares Gap Up to $46.48

Shares of WPP plc (NYSE:WPP) gapped up before the market opened on Thursday . The stock had previously closed at $46.48, but opened at $48.85. WPP shares last traded at $49.14, with a volume of 44,996 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on WPP. StockNews.com raised WPP from a “hold” rating to a “buy” rating in a research note on Monday, September 2nd. Citigroup upgraded shares of WPP to a “strong-buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.00.

WPP Stock Performance

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.89 and a quick ratio of 0.86. The business has a 50-day simple moving average of $46.78 and a 200-day simple moving average of $47.95.

WPP Increases Dividend

The company 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 dividend yield of 5.7%. The ex-dividend date is Friday, October 11th. This is an increase from WPP’s previous Semi-Annual dividend of $0.24.

Hedge Funds Weigh In On WPP

Several hedge funds have recently bought and sold shares of WPP. International Assets Investment Management LLC acquired a new stake in shares of WPP during the fourth quarter worth about $1,279,000. Truist Financial Corp boosted its position in WPP by 2.2% in the 4th quarter. Truist Financial Corp now owns 13,717 shares of the business services provider’s stock valued at $653,000 after buying an additional 292 shares during the period. Natixis Advisors L.P. grew its stake in shares of WPP by 2.2% in the fourth quarter. Natixis Advisors L.P. now owns 67,720 shares of the business services provider’s stock worth $3,221,000 after acquiring an additional 1,448 shares in the last quarter. Private Advisor Group LLC increased its position in shares of WPP by 22.1% during the fourth quarter. Private Advisor Group LLC now owns 8,716 shares of the business services provider’s stock worth $415,000 after acquiring an additional 1,580 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of WPP by 8.6% in the fourth quarter. Quadrant Capital Group LLC now owns 5,443 shares of the business services provider’s stock valued at $259,000 after acquiring an additional 431 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

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.