Brooklyn Investment Group Purchases 1,863 Shares of WPP PLC $WPP

Brooklyn Investment Group grew its stake in shares of WPP PLC (NYSE:WPP) by 3,450.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,917 shares of the business services provider’s stock after acquiring an additional 1,863 shares during the period. Brooklyn Investment Group’s holdings in WPP were worth $73,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock worth $38,000 after buying an additional 467 shares in the last quarter. 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 valued at $111,000 after buying an additional 787 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of WPP by 160.7% in the fourth quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider’s stock worth $173,000 after purchasing an additional 2,076 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of WPP by 323.1% in the first quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider’s stock worth $200,000 after purchasing an additional 4,029 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of WPP in the fourth quarter worth about $309,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Stock Up 2.8%

Shares of WPP stock opened at $27.1380 on Friday. The stock has a market cap of $5.86 billion, a P/E ratio of 4.55 and a beta of 1.01. WPP PLC has a 52 week low of $24.28 and a 52 week high of $57.37. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $29.96 and its two-hundred day simple moving average is $36.62.

WPP Cuts Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Kepler Capital Markets lowered shares of WPP from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Barclays restated an “underweight” rating on shares of WPP in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of WPP in a report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of WPP from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, WPP presently has a consensus rating of “Hold”.

WPP 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.