Short Interest in WPP plc (NYSE:WPP) Drops By 36.2%

WPP plc (NYSE:WPP) saw a large drop in short interest in September. As of September 30th, there was short interest totalling 181,800 shares, a drop of 36.2% from the September 15th total of 285,100 shares. Based on an average daily trading volume, of 171,500 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.1% of the shares of the company are short sold.

WPP Trading Down 0.1 %

Shares of NYSE:WPP traded down $0.03 during mid-day trading on Monday, reaching $49.35. 72,134 shares of the company traded hands, compared to its average volume of 163,319. The company’s 50 day moving average price is $48.24 and its 200-day moving average price is $48.76. WPP has a 52 week low of $41.13 and a 52 week high of $54.21.

WPP Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be paid a dividend of $0.954 per share. The ex-dividend date of this dividend is Friday, October 11th. This is an increase from WPP’s previous Semi-Annual dividend of $0.24. This represents a dividend yield of 5.7%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WPP. Citigroup upgraded WPP to a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com upgraded WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in WPP by 45.3% in the 3rd quarter. GAMMA Investing LLC now owns 648 shares of the business services provider’s stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in WPP by 8.4% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 4,707 shares of the business services provider’s stock worth $215,000 after purchasing an additional 364 shares in the last quarter. Signaturefd LLC lifted its holdings in WPP by 4.2% in the 2nd quarter. Signaturefd LLC now owns 9,504 shares of the business services provider’s stock worth $435,000 after purchasing an additional 380 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in WPP by 62.0% in the 1st 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, Legacy Wealth Asset Management LLC lifted its holdings in WPP by 5.8% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 9,796 shares of the business services provider’s stock worth $464,000 after purchasing an additional 537 shares in the last quarter. 4.34% of the stock is currently owned by 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.