Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Wpp Plc (NYSE:WPP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,114 shares of the business services provider's stock, valued at approximately $612,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. raised its stake 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 purchasing an additional 467 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of WPP by 57.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock worth $111,000 after buying an additional 787 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of WPP by 160.7% during the 4th quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock valued at $173,000 after buying an additional 2,076 shares during the period. GAMMA Investing LLC lifted its holdings in WPP by 323.1% in the first 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 last quarter. Finally, First Trust Advisors LP acquired a new position in WPP in the fourth quarter valued at approximately $309,000. Institutional investors and hedge funds own 4.34% of the company's stock.
WPP Stock Down 0.4%
Shares of WPP traded down $0.0990 during mid-day trading on Thursday, hitting $26.4210. 394,291 shares of the company's stock were exchanged, compared to its average volume of 372,673. The stock's 50-day moving average is $30.39 and its 200-day moving average is $36.91. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 0.86. Wpp Plc has a fifty-two week low of $24.28 and a fifty-two week high of $57.37. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 4.43 and a beta of 1.01.
WPP Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.5033 dividend. The ex-dividend date is Friday, October 10th. This represents a dividend yield of 1,060.0%. WPP's payout ratio is 16.08%.
Analyst Upgrades and Downgrades
WPP has been the subject of several recent analyst reports. Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Wall Street Zen cut WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Barclays reissued an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed 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, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold".
Read Our Latest Stock Analysis on WPP
About WPP
(
Free Report)
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.
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