WPP (NYSE:WPP) Sees Unusually-High Trading Volume – Still a Buy?

WPP plc (NYSE:WPP) saw unusually-high trading volume on Tuesday . Approximately 326,520 shares were traded during trading, an increase of 78% from the previous session’s volume of 182,955 shares.The stock last traded at $47.25 and had previously closed at $49.09.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

WPP Price Performance

The company has a market cap of $10.07 billion, a P/E ratio of 7.94, a P/E/G ratio of 8.03 and a beta of 1.27. The company’s 50-day moving average is $53.31 and its two-hundred day moving average is $50.07.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in WPP by 45.3% during the third quarter. GAMMA Investing LLC now owns 648 shares of the business services provider’s stock valued at $33,000 after buying an additional 202 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of WPP in the third quarter valued at about $84,000. Allspring Global Investments Holdings LLC grew its position in shares of WPP by 239.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,756 shares of the business services provider’s stock worth $126,000 after purchasing an additional 1,943 shares in the last quarter. Blue Trust Inc. lifted its holdings in WPP by 378.4% in the 3rd quarter. Blue Trust Inc. now owns 3,526 shares of the business services provider’s stock worth $180,000 after purchasing an additional 2,789 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in WPP in the 2nd quarter worth approximately $201,000. 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.