Wpp Plc (NYSE:WPP) Receives Consensus Rating of “Hold” from Brokerages

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

A number of analysts have recently weighed in on WPP shares. Citigroup restated a “neutral” rating on shares of WPP in a research note on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Rothschild & Co Redburn began coverage on shares of WPP in a report on Thursday, May 28th. They set a “buy” rating on the stock. The Goldman Sachs Group began coverage on shares of WPP in a research report on Wednesday, June 3rd. They issued a “sell” rating for the company. Finally, Berenberg Bank started coverage on shares of WPP in a research note on Tuesday, June 9th. They issued a “buy” rating for the company.

WPP Trading Up 0.4%

Shares of WPP opened at $26.99 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39. The stock has a fifty day moving average price of $19.37 and a two-hundred day moving average price of $18.33. WPP has a 52-week low of $14.81 and a 52-week high of $27.78.

WPP Cuts Dividend

The business 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 represents a dividend yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WPP. Legacy Wealth Asset Management LLC lifted its holdings in WPP by 6.4% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 18,988 shares of the business services provider’s stock worth $294,000 after buying an additional 1,146 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of WPP in the 1st quarter valued at $1,619,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of WPP in the 1st quarter valued at $609,000. Sei Investments Co. raised its position in shares of WPP by 115.7% during the first quarter. Sei Investments Co. now owns 48,528 shares of the business services provider’s stock worth $755,000 after acquiring an additional 26,031 shares during the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of WPP by 68.8% during the first quarter. NewEdge Wealth LLC now owns 26,640 shares of the business services provider’s stock worth $414,000 after acquiring an additional 10,862 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.

About WPP

WPP plc (NYSE: WPP) is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world’s largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.