Short Interest in Wpp Plc (NYSE:WPP) Grows By 21.4%

Wpp Plc (NYSE:WPP) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 2,259,235 shares, an increase of 21.4% from the January 15th total of 1,860,967 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 380,383 shares, the days-to-cover ratio is currently 5.9 days. Based on an average trading volume of 380,383 shares, the days-to-cover ratio is currently 5.9 days. Approximately 1.1% of the company’s stock are sold short.

Institutional Trading of WPP

A number of hedge funds have recently modified their holdings of the stock. Legacy Wealth Asset Management LLC grew its holdings in WPP by 4.1% during the second quarter. Legacy Wealth Asset Management LLC now owns 10,660 shares of the business services provider’s stock worth $373,000 after acquiring an additional 420 shares during the period. Allworth Financial LP grew its stake in shares of WPP by 38.9% during the 3rd quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after purchasing an additional 519 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of WPP by 1.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 41,521 shares of the business services provider’s stock valued at $1,454,000 after purchasing an additional 553 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of WPP by 30.3% in the 3rd quarter. Blue Trust Inc. now owns 2,592 shares of the business services provider’s stock valued at $65,000 after purchasing an additional 602 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in WPP by 9.2% during the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after buying an additional 654 shares in the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Trading Up 2.6%

NYSE WPP traded up $0.46 on Wednesday, reaching $18.33. 224,378 shares of the company’s stock traded hands, compared to its average volume of 547,290. WPP has a fifty-two week low of $17.25 and a fifty-two week high of $49.05. The stock has a 50 day moving average price of $21.20 and a 200-day moving average price of $22.61.

Analyst Upgrades and Downgrades

WPP has been the subject of a number of recent analyst reports. Citigroup initiated coverage on shares of WPP in a research note on Monday, January 12th. They issued a “neutral” rating for the company. Zacks Research raised shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded WPP from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

WPP Company Profile

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.