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

WPP plc (NYSE:WPP) shares 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Citigroup raised WPP to a “strong-buy” rating in a report on Thursday, August 8th.

WPP Trading Down 0.1 %

The firm’s 50 day simple moving average is $52.10 and its two-hundred day simple moving average is $49.61.

Institutional Investors Weigh In On WPP

Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in WPP by 26.0% in 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 acquiring an additional 24,899 shares during the period. International Assets Investment Management LLC bought a new stake in shares of WPP in the 3rd quarter worth approximately $1,479,000. Envestnet Asset Management Inc. boosted its position in WPP by 15.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock valued at $9,115,000 after purchasing an additional 27,384 shares during the period. Oppenheimer Asset Management Inc. grew its stake in WPP by 9.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider’s stock worth $1,592,000 after buying an additional 2,862 shares during the last quarter. Finally, Bank of Montreal Can increased its position in WPP by 72.0% in the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock worth $9,247,000 after buying an additional 80,102 shares during the period. 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.