Mork Capital Management LLC Purchases Shares of 19,200 WPP plc (NYSE:WPP)

Mork Capital Management LLC bought a new position in shares of WPP plc (NYSE:WPP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,200 shares of the business services provider's stock, valued at approximately $987,000.

A number of other hedge funds have also added to or reduced their stakes in WPP. Graham Capital Management L.P. acquired a new position in shares of WPP during the fourth quarter worth $872,000. Jane Street Group LLC purchased a new position in WPP during the fourth quarter worth about $2,292,000. Northern Trust Corp boosted its holdings in WPP by 83.5% during the fourth quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock worth $13,037,000 after purchasing an additional 115,416 shares during the last quarter. Optiver Holding B.V. boosted its stake in WPP by 104.6% in the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock valued at $7,272,000 after acquiring an additional 72,342 shares during the last quarter. Finally, Aquatic Capital Management LLC boosted its stake in WPP by 144.4% in the fourth quarter. Aquatic Capital Management LLC now owns 12,462 shares of the business services provider's stock valued at $641,000 after acquiring an additional 7,362 shares during the last quarter. 4.34% of the stock is owned by institutional investors.

WPP Stock Up 1.9%

WPP stock opened at $40.10 on Tuesday. The business's fifty day simple moving average is $37.82 and its two-hundred day simple moving average is $45.79. WPP plc has a twelve month low of $31.52 and a twelve month high of $57.37. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 7.06 and a beta of 1.04.

WPP Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 6th will be paid a $0.9728 dividend. This represents a yield of 6.2%. This is an increase from WPP's previous semi-annual dividend of $0.95. The ex-dividend date is Friday, June 6th. WPP's dividend payout ratio (DPR) is 8.04%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WPP. Barclays lowered shares of WPP from an "overweight" rating to an "equal weight" rating in a report on Friday, February 28th. The Goldman Sachs Group initiated coverage on WPP in a research report on Wednesday, March 26th. They issued a "neutral" rating for the company. Finally, Kepler Capital Markets upgraded shares of WPP from a "hold" rating to a "buy" rating in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, WPP has a consensus rating of "Moderate Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.