WPP (NYSE:WPP) Stock Passes Above 200-Day Moving Average – Time to Sell?

Wpp Plc (NYSE:WPP)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $18.62 and traded as high as $27.57. WPP shares last traded at $27.0260, with a volume of 360,203 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Rothschild & Co Redburn initiated coverage on shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Berenberg Bank began coverage on WPP in a research note on Tuesday, June 9th. They issued a “buy” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Monday, August 10th. Finally, The Goldman Sachs Group assumed coverage on WPP in a report on Wednesday, June 3rd. They set a “sell” rating for the company. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

WPP Stock Down 2.6%

The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average price of $20.66 and a two-hundred day moving average price of $18.68.

WPP Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a $0.5052 dividend. The ex-dividend date is Friday, October 9th. This represents a dividend yield of 390.0%.

Hedge Funds Weigh In On WPP

Large investors have recently made changes to their positions in the company. Bank of Montreal Can grew its stake in WPP by 385.3% in the 4th quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock worth $10,134,000 after acquiring an additional 358,218 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of WPP by 1,082.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock valued at $5,714,000 after buying an additional 232,878 shares during the period. ABC Arbitrage SA bought a new position in WPP during the 4th quarter worth about $5,199,000. Tower Research Capital LLC TRC lifted its position in shares of WPP by 3,840.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 132,680 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of WPP during the first quarter valued at approximately $1,619,000. 4.34% of the stock is owned by hedge funds and other institutional investors.

About WPP

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.