WPP PLC $WPP Shares Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. significantly increased its stake in WPP Plc by 82.2% during the first quarter, now holding 30,916 shares valued at approximately $1.17 million.
• WPP recently declared a semi-annual dividend of $0.5033 per share, boasting a high dividend yield of 1,060.0%.
• Analysts have mixed ratings on WPP, with some downgrading the stock from "hold" to "sell", leading to an average rating of "Reduce".

Graham Capital Management L.P. grew its stake in shares of WPP PLC (NYSE:WPP - Free Report) by 82.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,916 shares of the business services provider's stock after buying an additional 13,949 shares during the period. Graham Capital Management L.P.'s holdings in WPP were worth $1,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. boosted its position in shares of WPP by 88.3% during the 1st 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 holdings 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 valued at $73,000 after acquiring an additional 1,863 shares during the period. Quantbot Technologies LP bought a new stake in shares of WPP during the first quarter valued at approximately $75,000. GAMMA Investing LLC lifted its holdings in shares of WPP by 323.1% during 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 period. Finally, Vident Advisory LLC lifted its position in shares of WPP by 8.0% during the first 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 in the last quarter. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Stock Performance

WPP stock traded up $0.18 during midday trading on Friday, reaching $26.99. 296,756 shares of the company's stock traded hands, compared to its average volume of 421,253. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The stock's 50-day moving average is $28.23 and its 200 day moving average is $35.00. The stock has a market cap of $5.82 billion, a P/E ratio of 4.52 and a beta of 0.97. WPP PLC has a 52-week low of $24.28 and a 52-week high of $57.37.

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 paid 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 presently 8.21%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WPP. Zacks Research downgraded WPP from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Kepler Capital Markets lowered WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Wall Street Zen lowered WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Finally, Barclays reissued an "underweight" rating on shares of WPP in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average 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.