Wpp Plc (NYSE:WPP) Short Interest Up 21.4% in January

Wpp Plc (NYSE:WPP) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 2,259,235 shares, a growth of 21.4% from the January 15th total of 1,860,967 shares. Based on an average daily volume of 380,383 shares, the short-interest ratio is presently 5.9 days. Approximately 1.1% of the shares of the stock are sold short. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 380,383 shares, the short-interest ratio is presently 5.9 days.

WPP Trading Up 3.7%

Shares of WPP opened at $18.52 on Thursday. WPP has a fifty-two week low of $17.25 and a fifty-two week high of $49.05. The company’s fifty day moving average is $21.14 and its two-hundred day moving average is $22.58.

Institutional Investors Weigh In On WPP

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPP. OLD Mission Capital LLC acquired a new position in shares of WPP in the 4th quarter valued at about $2,123,000. Balyasny Asset Management L.P. lifted its position in WPP by 1,082.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock valued at $5,714,000 after buying an additional 232,878 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in WPP during the fourth quarter worth approximately $726,000. Cetera Investment Advisers increased its position in shares of WPP by 22.7% in the fourth quarter. Cetera Investment Advisers now owns 15,247 shares of the business services provider’s stock worth $342,000 after acquiring an additional 2,818 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of WPP by 3,840.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock valued at $3,058,000 after acquiring an additional 132,680 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on WPP shares. Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Finally, Citigroup assumed coverage on WPP in a research report on Monday, January 12th. They issued a “neutral” rating for the company. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

WPP Company Profile

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.