Graham Capital Management L.P. Purchases 13,949 Shares of Wpp Plc $WPP

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. lifted its position in WPP by 101.0% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 34,978 shares of the business services provider's stock worth $1,328,000 after buying an additional 17,576 shares in the last quarter. Gilman Hill Asset Management LLC lifted its position in WPP by 15.2% during the 1st quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider's stock worth $3,551,000 after buying an additional 12,330 shares in the last quarter. Bank of New York Mellon Corp lifted its position in WPP by 120.2% during the 1st quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider's stock worth $1,763,000 after buying an additional 25,359 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in WPP by 604.0% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 33,708 shares of the business services provider's stock worth $1,280,000 after buying an additional 28,920 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in WPP during the 4th quarter worth about $2,292,000. 4.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WPP. Barclays reissued an "underweight" rating on shares of WPP in a research report on Friday, August 8th. Wall Street Zen cut shares of WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a report on Thursday, July 10th. Zacks Research cut shares of WPP from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Finally, Kepler Capital Markets cut shares of 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 given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

WPP Price Performance

WPP stock traded up $0.06 during mid-day trading on Tuesday, reaching $27.26. The company had a trading volume of 88,816 shares, compared to its average volume of 367,993. Wpp Plc has a fifty-two week low of $24.28 and a fifty-two week high of $57.37. 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 company has a market cap of $5.88 billion, a P/E ratio of 4.56 and a beta of 0.97. The business has a fifty day simple moving average of $28.08 and a 200 day simple moving average of $34.77.

WPP Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.5033 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a dividend yield of 1,060.0%. WPP's dividend payout ratio (DPR) is presently 16.08%.

About WPP

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.