WPP (NYSE:WPP) Sets New 12-Month Low - Here's What Happened

Key Points

• WPP shares have hit a new 52-week low at $24.52, reflecting a downturn as analysts express mixed ratings on the stock.
• Analysts have varied views, with Kepler Capital Markets downgrading to "hold," while Deutsche Bank maintains a "buy" rating, leading to a consensus rating of "Hold."
• Institutional investors have shown activity, with several firms, including Assetmark Inc., significantly increasing their stakes in WPP during recent quarters.

WPP PLC (NYSE:WPP - Get Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $24.52 and last traded at $24.55, with a volume of 186452 shares changing hands. The stock had previously closed at $24.75.

Analyst Ratings Changes

Several research firms have recently weighed in on WPP. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Barclays reiterated an "underweight" rating on shares of WPP in a report on Friday, August 8th. Wall Street Zen cut shares of WPP from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Kepler Capital Markets lowered shares of WPP from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, WPP has an average rating of "Hold".

WPP Trading Down 0.2%

The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 0.86. The stock's 50 day simple moving average is $31.06 and its 200 day simple moving average is $37.35. The firm has a market cap of $5.49 billion, a PE ratio of 4.26 and a beta of 1.01.

WPP Cuts Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WPP. JPMorgan Chase & Co. increased its position in shares of WPP by 184.3% in the fourth quarter. JPMorgan Chase & Co. now owns 15,729 shares of the business services provider's stock valued at $808,000 after acquiring an additional 10,197 shares during the period. Russell Investments Group Ltd. increased its stake in shares of WPP by 57.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after buying an additional 787 shares during the period. Mariner LLC raised its holdings in shares of WPP by 4.2% during the fourth quarter. Mariner LLC now owns 74,476 shares of the business services provider's stock valued at $3,828,000 after acquiring an additional 3,001 shares in the last quarter. NewEdge Advisors LLC increased its position in 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 purchasing an additional 2,076 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of WPP during the 4th quarter valued at about $309,000. Hedge funds and other institutional investors own 4.34% of the company's stock.

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.