WPP (NYSE:WPP) Reaches New 52-Week High – Still a Buy?

WPP plc (NYSE:WPP)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $54.60 and last traded at $54.60, with a volume of 29820 shares changing hands. The stock had previously closed at $53.60.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WPP shares. Citigroup raised shares of WPP to a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a report on Monday.

WPP Trading Up 0.5 %

The company’s fifty day simple moving average is $50.68 and its two-hundred day simple moving average is $49.38.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased 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 worth $33,000 after buying an additional 202 shares in the last quarter. Blue Trust Inc. increased its position in WPP by 767.1% during the 2nd quarter. Blue Trust Inc. now owns 737 shares of the business services provider’s stock worth $35,000 after purchasing an additional 652 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of WPP in the first quarter valued at approximately $39,000. EverSource Wealth Advisors LLC lifted its stake in shares of WPP by 62.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,320 shares of the business services provider’s stock valued at $66,000 after buying an additional 505 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in WPP during the second quarter worth approximately $80,000. 4.34% of the stock is currently owned by institutional investors and hedge funds.

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.