Wpp Plc (NYSE:WPP) Receives Average Rating of “Hold” from Analysts

Shares of Wpp Plc (NYSE:WPP) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company.

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a research note on Friday, September 11th. Citigroup reissued a “neutral” rating on shares of WPP in a report on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a research report on Tuesday, September 8th.

WPP Stock Performance

WPP stock opened at $25.44 on Friday. WPP has a 1-year low of $14.81 and a 1-year high of $27.78. The stock’s 50 day moving average price is $25.21 and its 200 day moving average price is $20.37.

WPP Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a dividend of $0.5052 per share. This is a negative change from WPP’s previous dividend of $0.5079. The ex-dividend date of this dividend is Friday, October 9th. This represents a dividend yield of 390.0%.

Hedge Funds Weigh In On WPP

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. purchased a new position in WPP during the 2nd quarter valued at about $176,000. Engineers Gate Manager LP acquired a new position in shares of WPP in the second quarter worth $401,000. Squarepoint Ops LLC lifted its position in shares of WPP by 29.6% in the second quarter. Squarepoint Ops LLC now owns 26,001 shares of the business services provider’s stock valued at $403,000 after acquiring an additional 5,933 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of WPP by 6.4% during the second quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of WPP during the first quarter valued at $1,619,000. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Company Profile

WPP plc is a global marketing and communications company that provides advertising, media investment, public relations, branding, customer experience, and technology services. Through its agencies and specialist businesses, WPP helps organizations develop brands, create content, reach audiences, and use data and technology to support marketing and customer engagement.

The company’s portfolio includes agencies and platforms such as WPP Media, VML, Ogilvy, Burson, AKQA, GroupM, and WPP Open.