Wpp Plc (NYSE:WPP) Given Consensus Rating of “Reduce” by Brokerages

Wpp Plc (NYSE:WPP) has received an average recommendation of “Reduce” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company.

WPP has been the topic of a number of research reports. Barclays reissued an “underweight” rating on shares of WPP in a report on Friday, August 8th. Kepler Capital Markets lowered WPP from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of WPP in a report on Thursday, July 10th.

WPP Stock Performance

Shares of WPP stock opened at $23.54 on Friday. The stock’s 50-day simple moving average is $25.35 and its 200-day simple moving average is $31.63. The firm has a market capitalization of $5.08 billion, a PE ratio of 3.94 and a beta of 0.95. WPP has a fifty-two week low of $22.42 and a fifty-two week high of $57.37.

WPP Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $0.5033 per share. This represents a yield of 447.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP’s dividend payout ratio (DPR) is 16.08%.

Institutional Trading of WPP

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. grew its holdings in WPP by 88.3% during the first quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock worth $38,000 after acquiring an additional 467 shares during the period. Osaic Holdings Inc. boosted its position in WPP by 105.8% during the second quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares in the last quarter. Traub Capital Management LLC purchased a new position in WPP during the second quarter worth approximately $52,000. Brooklyn Investment Group boosted its position in WPP by 3,450.0% during the first quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider’s stock worth $73,000 after purchasing an additional 1,863 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in WPP during the first quarter worth approximately $75,000. 4.34% of the stock is owned by institutional investors and hedge funds.

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.