WPP (NYSE:WPP) Sees Large Volume Increase – Still a Buy?

WPP plc (NYSE:WPP) saw strong trading volume on Tuesday . 326,520 shares traded hands during mid-day 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 Stock Down 5.0 %

The firm’s 50-day simple moving average is $53.31 and its 200-day simple moving average is $50.07. The firm has a market capitalization of $10.07 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 8.03 and a beta of 1.27.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WPP. Hotchkis & Wiley Capital Management LLC increased its stake in shares of WPP by 47.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock valued at $274,016,000 after buying an additional 1,734,750 shares during the period. The Manufacturers Life Insurance Company purchased a new position in WPP during the 3rd quarter valued at $35,757,000. Brandes Investment Partners LP raised its holdings in WPP by 7.0% in the 2nd quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after purchasing an additional 42,690 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of WPP by 24.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock worth $14,759,000 after purchasing an additional 63,363 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of 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 in the last quarter. 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.