Graham Capital Management L.P. Purchases 13,949 Shares of Wpp Plc $WPP

by · The Cerbat Gem

Graham Capital Management L.P. grew its stake in shares of Wpp Plc (NYSE:WPP – Free Report) by 82.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,916 shares of the business services provider’s stock after buying an additional 13,949 shares during the period. Graham Capital Management L.P.’s holdings in WPP were worth $1,174,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WPP. Assetmark Inc. grew its stake in shares of WPP by 88.3% during the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 467 shares during the period. Brooklyn Investment Group grew its stake in shares of WPP by 3,450.0% during the 1st quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 1,863 shares during the period. Quantbot Technologies LP bought a new position in shares of WPP during the 1st quarter valued at approximately $75,000. GAMMA Investing LLC grew its stake in shares of WPP by 323.1% during the 1st quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider’s stock valued at $200,000 after acquiring an additional 4,029 shares during the period. Finally, Vident Advisory LLC grew its stake in shares of WPP by 8.0% during the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider’s stock valued at $235,000 after acquiring an additional 459 shares during the period. 4.34% of the stock is currently owned by institutional investors.

WPP Stock Performance

NYSE:WPP opened at $26.55 on Thursday. The stock’s fifty day moving average is $28.56 and its 200 day moving average is $35.39. Wpp Plc has a fifty-two week low of $24.28 and a fifty-two week high of $57.37. The firm has a market capitalization of $5.73 billion, a PE ratio of 4.45 and a beta of 0.97. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 0.86.

WPP Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $0.5033 dividend. This represents a yield of 1,060.0%. The ex-dividend date of this dividend is Friday, October 10th. WPP’s dividend payout ratio is 8.21%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WPP. Wall Street Zen downgraded WPP from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Zacks Research cut WPP from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. Kepler Capital Markets cut WPP from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of WPP in a report on Thursday, July 10th. Finally, Barclays reaffirmed an “underweight” rating on shares of WPP in a report on Friday, August 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, WPP has an average rating of “Reduce”.

Read Our Latest Research Report on WPP

WPP Profile

(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.

See Also

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