Range Financial Group LLC Invests $1.56 Million in WPP PLC $WPP

Key Points

• Range Financial Group LLC acquired 44,558 shares of WPP PLC, valued at approximately $1,560,000, marking a significant new investment in the company.
• Recent analyst ratings show mixed sentiments for WPP, with one firm downgrading the stock from a "strong-buy" to a "hold," while Deutsche Bank maintains a "buy" rating.
• WPP recently announced a semi-annual dividend of $0.5033 per share, resulting in an extraordinary yield of 1,060.0%, despite a current dividend payout ratio of only 8.21%.

Range Financial Group LLC bought a new stake in WPP PLC (NYSE:WPP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 44,558 shares of the business services provider's stock, valued at approximately $1,560,000.

A number of other large investors also recently modified their holdings of the business. Assetmark Inc. grew its stake in WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock valued at $38,000 after purchasing an additional 467 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of WPP by 3,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock worth $73,000 after acquiring an additional 1,863 shares during the period. Quantbot Technologies LP acquired a new position in shares of WPP during the 1st quarter worth approximately $75,000. GAMMA Investing LLC raised its stake in WPP by 323.1% in the 1st quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock valued at $200,000 after acquiring an additional 4,029 shares during the period. Finally, Vident Advisory LLC raised its stake in WPP by 8.0% in the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider's stock valued at $235,000 after acquiring an additional 459 shares during the period. 4.34% of the stock is currently owned by institutional investors and hedge funds.

WPP Price Performance

WPP traded down $1.71 on Friday, hitting $24.04. 903,179 shares of the stock were exchanged, compared to its average volume of 330,075. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.88. WPP PLC has a 12 month low of $24.01 and a 12 month high of $57.37. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 4.03 and a beta of 0.97. The business has a 50-day moving average of $26.78 and a two-hundred day moving average of $33.82.

WPP Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.5033 dividend. This represents a dividend yield of 1,060.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP's dividend payout ratio (DPR) is currently 8.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WPP shares. Zacks Research lowered shares of WPP from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Wall Street Zen raised shares of WPP from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Barclays restated an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Finally, Kepler Capital Markets lowered WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce".

WPP 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.