QRG Capital Management Inc. Purchases Shares of 10,807 WPP PLC $WPP

QRG Capital Management Inc. purchased a new stake in WPP PLC (NYSE:WPP) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,807 shares of the business services provider’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Range Financial Group LLC purchased a new stake in shares of WPP during the 2nd quarter valued at $1,560,000. Jane Street Group LLC raised its position in shares of WPP by 49.0% during the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock valued at $2,523,000 after buying an additional 21,866 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in WPP in the 1st quarter worth $327,000. Graham Capital Management L.P. raised its position in WPP by 82.2% in the 1st quarter. Graham Capital Management L.P. now owns 30,916 shares of the business services provider’s stock worth $1,174,000 after purchasing an additional 13,949 shares during the period. Finally, Vident Advisory LLC raised its position in WPP by 8.0% in the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider’s stock worth $235,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Analyst Ratings Changes

WPP has been the topic of a number of analyst reports. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Kepler Capital Markets cut shares of WPP from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 31st. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research report on Wednesday. Wall Street Zen cut shares of WPP from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

WPP Price Performance

NYSE:WPP opened at $22.51 on Friday. WPP PLC has a one year low of $22.46 and a one year high of $57.37. The company’s 50-day simple moving average is $25.63 and its 200 day simple moving average is $32.14. The firm has a market capitalization of $4.86 billion, a P/E ratio of 3.77 and a beta of 0.95.

WPP Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.5033 per share. This represents a dividend yield of 447.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP’s payout ratio is presently 8.21%.

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.