Wpp Plc (NYSE:WPP - Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $24.21 and last traded at $24.52, with a volume of 227155 shares traded. The stock had previously closed at $25.75.
Analyst Ratings Changes
A number of brokerages have commented on WPP. Barclays restated an "underweight" rating on shares of WPP in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research note on Thursday, July 10th. Zacks Research cut WPP from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Wall Street Zen cut WPP from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Kepler Capital Markets cut WPP from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce".
Read Our Latest Report on WPP
WPP Price Performance
The company has a 50 day simple moving average of $26.71 and a 200-day simple moving average of $33.61. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 4.08 and a beta of 0.97. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.13.
WPP Cuts Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a dividend of $0.5033 per share. The ex-dividend date is Friday, October 10th. This represents a yield of 1,060.0%. WPP's dividend payout ratio is presently 8.21%.
Institutional Trading of WPP
Several institutional investors and hedge funds have recently bought and sold shares of WPP. Hotchkis & Wiley Capital Management LLC grew its holdings in WPP by 27.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 6,720,858 shares of the business services provider's stock worth $255,124,000 after buying an additional 1,436,668 shares in the last quarter. Invesco Ltd. lifted its position in WPP by 50.8% in the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider's stock worth $92,937,000 after purchasing an additional 824,336 shares during the period. Brandes Investment Partners LP lifted its position in WPP by 12.2% in the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider's stock worth $21,930,000 after purchasing an additional 68,271 shares during the period. Bank of America Corp DE lifted its position in WPP by 10.8% in the second quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider's stock worth $16,486,000 after purchasing an additional 45,866 shares during the period. Finally, Range Financial Group LLC acquired a new stake in WPP in the second quarter worth approximately $1,560,000. Institutional investors and hedge funds own 4.34% of the company's stock.
About WPP
(
Get 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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