Wpp Plc (NYSE:WPP) Short Interest Update

Wpp Plc (NYSE:WPP) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 2,918,695 shares, a decline of 19.8% from the February 26th total of 3,637,324 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average trading volume of 655,147 shares, the days-to-cover ratio is currently 4.5 days.

WPP Price Performance

Shares of WPP stock traded up $0.33 during midday trading on Wednesday, hitting $15.88. The company had a trading volume of 89,103 shares, compared to its average volume of 640,560. The company has a fifty day simple moving average of $17.92 and a 200 day simple moving average of $20.59. WPP has a 12-month low of $14.81 and a 12-month high of $40.94. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research note on Wednesday, January 21st. Citigroup initiated coverage on WPP in a research report on Monday, January 12th. They set a “neutral” rating on the stock. Wall Street Zen upgraded WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Barclays upgraded WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, WPP presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On WPP

Several hedge funds have recently made changes to their positions in WPP. Caitong International Asset Management Co. Ltd acquired a new stake in WPP during the 3rd quarter worth about $28,000. GAMMA Investing LLC grew its stake in WPP by 185.0% during the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 814 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of WPP by 105.8% in the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 717 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of WPP by 323.9% in the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock worth $41,000 after purchasing an additional 1,689 shares during the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

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.