Shares of WPP plc (NYSE:WPP – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $47.94, but opened at $46.38. WPP shares last traded at $46.27, with a volume of 19,319 shares changing hands.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on WPP. Deutsche Bank Aktiengesellschaft downgraded WPP from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. StockNews.com cut WPP from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $966.80.
WPP Price Performance
WPP Cuts Dividend
The business also recently announced a semi-annual dividend, which will be paid on Friday, November 3rd. Investors of record on Friday, October 13th will be given a dividend of $0.9536 per share. This represents a yield of 4.9%. The ex-dividend date of this dividend is Thursday, October 12th.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in WPP during the 1st quarter worth $28,000. International Assets Investment Management LLC bought a new position in shares of WPP in the 1st quarter worth about $34,000. CWM LLC raised its position in shares of WPP by 85.1% in the 2nd quarter. CWM LLC now owns 583 shares of the business services provider’s stock worth $30,000 after acquiring an additional 268 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of WPP in the 4th quarter worth about $30,000. Finally, Tower Research Capital LLC TRC raised its position in shares of WPP by 187.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 617 shares of the business services provider’s stock worth $25,000 after acquiring an additional 402 shares in the last quarter. 4.34% of the stock is owned by institutional investors.
WPP Company Profile
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.
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