WPP (NYSE:WPP) Trading Down 1.6% – Here’s What Happened

WPP plc (NYSE:WPP)’s share price fell 1.6% during trading on Friday . The stock traded as low as $40.02 and last traded at $39.91. 48,617 shares traded hands during trading, a decline of 80% from the average session volume of 247,590 shares. The stock had previously closed at $40.56.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WPP. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th. Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Finally, Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a research note on Friday, January 24th.

WPP Stock Down 1.6 %

The firm has a 50 day simple moving average of $45.45 and a 200-day simple moving average of $49.61. The company has a market cap of $8.61 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The business 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%. The ex-dividend date is Friday, June 6th. This is a positive change from WPP’s previous semi-annual dividend of $0.95. WPP’s payout ratio is 8.04%.

Hedge Funds Weigh In On WPP

Several institutional investors and hedge funds have recently added to or reduced their stakes in WPP. Assetmark Inc. grew its stake in shares of WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after acquiring an additional 528 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of WPP by 453.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after acquiring an additional 966 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after acquiring an additional 599 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of WPP during the third quarter worth about $84,000. Finally, Russell Investments Group Ltd. grew 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 worth $111,000 after acquiring an additional 787 shares during the last quarter. 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.