WPP (NYSE:WPP) Sets New 1-Year Low – Here’s What Happened

Wpp Plc (NYSE:WPP) shares hit a new 52-week low on Friday . The company traded as low as $24.21 and last traded at $24.52, with a volume of 227155 shares changing hands. The stock had previously closed at $25.75.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WPP. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of WPP in a research report on Thursday, July 10th. Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a research report on Sunday. Zacks Research downgraded WPP from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 21st. Kepler Capital Markets cut shares of WPP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, Barclays reaffirmed an “underweight” rating on shares of WPP in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, WPP presently has an average rating of “Reduce”.

WPP Trading Down 6.6%

The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 4.03 and a beta of 0.97. The firm’s 50 day moving average is $26.78 and its 200 day moving average is $33.78. 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 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 is Friday, October 10th. This represents a dividend yield of 1,060.0%. WPP’s dividend payout ratio is 16.08%.

Institutional Trading of WPP

Hedge funds have recently bought and sold shares of the stock. Range Financial Group LLC bought a new position in WPP during the 2nd quarter valued at about $1,560,000. Vestmark Advisory Solutions Inc. grew its position in shares of 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 during the period. Gilman Hill Asset Management LLC boosted its position in shares of WPP by 15.2% during the first quarter. Gilman Hill Asset Management LLC now owns 93,542 shares of the business services provider’s stock worth $3,551,000 after purchasing an additional 12,330 shares in the last quarter. Bank of New York Mellon Corp grew its stake in WPP by 120.2% in the first quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider’s stock valued at $1,763,000 after acquiring an additional 25,359 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its stake 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 purchasing an additional 28,920 shares in the last quarter. 4.34% of the stock is owned by institutional investors.

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.