WPP (NYSE:WPP) Sees Large Volume Increase – Should You Buy?

Shares of WPP plc (NYSE:WPP) saw unusually-strong trading volume on Wednesday . Approximately 371,833 shares changed hands during mid-day trading, an increase of 132% from the previous session’s volume of 160,206 shares.The stock last traded at $53.82 and had previously closed at $53.77.

Analysts Set New Price Targets

Several brokerages have issued reports on WPP. Citigroup raised WPP to a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded shares of WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

WPP Price Performance

The firm has a fifty day simple moving average of $51.97 and a two-hundred day simple moving average of $49.56.

Institutional Investors Weigh In On WPP

Several institutional investors and hedge funds have recently modified their holdings of WPP. Sei Investments Co. lifted its holdings in WPP by 31.6% in the first quarter. Sei Investments Co. now owns 12,571 shares of the business services provider’s stock worth $596,000 after buying an additional 3,020 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of WPP by 26.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 120,564 shares of the business services provider’s stock valued at $5,715,000 after purchasing an additional 24,899 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in WPP by 62.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock worth $66,000 after purchasing an additional 505 shares during the period. Gilman Hill Asset Management LLC raised its holdings in WPP by 4.8% in the second quarter. Gilman Hill Asset Management LLC now owns 75,816 shares of the business services provider’s stock worth $3,471,000 after purchasing an additional 3,465 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in WPP by 767.1% during the second quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock valued at $35,000 after buying an additional 652 shares during the period. 4.34% of the stock is owned by hedge funds and other 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.