WPP plc (NYSE:WPP) Sees Large Decrease in Short Interest

WPP plc (NYSE:WPP) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totalling 103,000 shares, a decline of 33.5% from the May 31st total of 154,900 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 183,200 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.00.

WPP Price Performance

WPP opened at $46.80 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. WPP has a 12 month low of $41.13 and a 12 month high of $57.30. The stock has a fifty day moving average price of $50.53 and a 200-day moving average price of $48.37.

Hedge Funds Weigh In On WPP

A number of large investors have recently added to or reduced their stakes in WPP. Allspring Global Investments Holdings LLC purchased a new position in shares of WPP in the 1st quarter worth approximately $39,000. Voisard Asset Management Group Inc. purchased a new position in WPP in the fourth quarter worth $45,000. CVA Family Office LLC acquired a new position in shares of WPP during the fourth quarter worth $49,000. EverSource Wealth Advisors LLC lifted its holdings in shares of WPP by 62.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 505 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of WPP in the 4th quarter worth $111,000. 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.