WPP (NYSE:WPP) Shares Gap Up to $51.16

WPP plc (NYSE:WPP)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $51.16, but opened at $52.98. WPP shares last traded at $52.01, with a volume of 53,247 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Citigroup raised WPP to a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com raised shares of WPP from a “hold” rating to a “buy” rating in a research note on Sunday, September 8th.

WPP Price Performance

The business’s fifty day moving average price is $47.67 and its 200-day moving average price is $48.45. The company has a market capitalization of $11.75 billion, a P/E ratio of 8.70, a P/E/G ratio of 7.35 and a beta of 1.29. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.09.

WPP Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 11th will be issued a dividend of $0.954 per share. This represents a dividend yield of 5.7%. This is a boost from WPP’s previous Semi-Annual dividend of $0.24. The ex-dividend date is Friday, October 11th. WPP’s dividend payout ratio (DPR) is currently 51.93%.

Institutional Investors Weigh In On WPP

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in shares of WPP by 767.1% in the second quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock worth $35,000 after buying an additional 652 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in WPP in the 1st quarter worth approximately $39,000. Voisard Asset Management Group Inc. bought a new stake in WPP in the fourth quarter valued at approximately $45,000. EverSource Wealth Advisors LLC boosted its stake in shares of WPP by 62.0% during the first 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 period. Finally, Rothschild Investment LLC bought a new position in shares of WPP in the second quarter worth approximately $80,000. 4.34% of the stock is currently owned by institutional investors.

WPP Company Profile

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.