WPP (NYSE:WPP) Shares Gap Up – What’s Next?

WPP plc (NYSE:WPP)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $50.18, but opened at $51.85. WPP shares last traded at $51.98, with a volume of 25,947 shares trading hands.

Wall Street Analyst Weigh In

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

WPP Stock Up 0.9 %

The stock has a fifty day moving average of $49.28 and a 200 day moving average of $48.96.

WPP Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 11th will be issued a dividend of $0.954 per share. The ex-dividend date is Friday, October 11th. This is a boost from WPP’s previous Semi-Annual dividend of $0.24. This represents a yield of 5.7%.

Institutional Trading of WPP

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPP. GAMMA Investing LLC grew its holdings in WPP by 45.3% during the 3rd 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 in the last quarter. Blue Trust Inc. grew its holdings in WPP by 767.1% during the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in WPP in the 1st quarter worth approximately $39,000. EverSource Wealth Advisors LLC raised 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 worth $66,000 after acquiring an additional 505 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of WPP during the 2nd quarter valued at approximately $80,000. Institutional investors own 4.34% of the company’s stock.

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.