WPP (NYSE:WPP) Reaches New 1-Year Low – Time to Sell?

WPP plc (NYSE:WPP)’s share price reached a new 52-week low on Wednesday . The company traded as low as $34.62 and last traded at $36.29, with a volume of 768657 shares. The stock had previously closed at $37.96.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WPP shares. The Goldman Sachs Group began coverage on WPP in a report on Wednesday, March 26th. They set a “neutral” rating on the stock. Kepler Capital Markets upgraded WPP from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Finally, Barclays lowered WPP from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, WPP has an average rating of “Moderate Buy”.

WPP Stock Performance

The company has a 50-day simple moving average of $44.01 and a two-hundred day simple moving average of $48.89. The firm has a market capitalization of $7.83 billion, a P/E ratio of 6.08, a PEG ratio of 7.06 and a beta of 1.20.

WPP Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 7th. Investors of record on Friday, June 6th will be paid a $0.9728 dividend. This represents a yield of 6.2%. This is a boost from WPP’s previous semi-annual dividend of $0.95. The ex-dividend date of this dividend is Friday, June 6th. WPP’s dividend payout ratio is presently 8.04%.

Hedge Funds Weigh In On WPP

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of WPP by 52,800.0% in the 4th quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock worth $27,000 after acquiring an additional 528 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after purchasing an additional 966 shares during the period. GAMMA Investing LLC increased 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 valued at $64,000 after purchasing an additional 599 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of WPP during the third quarter valued at approximately $84,000. Finally, Russell Investments Group Ltd. boosted its position in shares of WPP by 57.0% in the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock worth $111,000 after purchasing an additional 787 shares in 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.