Renaissance Technologies LLC Invests $1.62 Million in Wpp Plc $WPP

Renaissance Technologies LLC bought a new stake in shares of Wpp Plc (NYSE:WPP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 104,100 shares of the business services provider’s stock, valued at approximately $1,619,000.

Several other hedge funds have also bought and sold shares of WPP. Cetera Investment Advisers increased its position in WPP by 9.2% in the second quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock worth $272,000 after buying an additional 654 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after buying an additional 717 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of WPP by 6.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock valued at $343,000 after buying an additional 776 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of WPP during the 3rd quarter valued at approximately $28,000. Finally, Russell Investments Group Ltd. grew its stake in shares of WPP by 99.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock valued at $82,000 after acquiring an additional 1,173 shares during the period. Institutional investors own 4.34% of the company’s stock.

WPP Stock Performance

NYSE:WPP opened at $26.84 on Thursday. The stock has a 50-day moving average price of $19.20 and a 200 day moving average price of $18.29. Wpp Plc has a 12-month low of $14.81 and a 12-month high of $27.78. The company has a current ratio of 0.87, a quick ratio of 0.89 and a debt-to-equity ratio of 1.39.

WPP Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be issued a dividend of $0.5052 per share. This represents a yield of 390.0%. The ex-dividend date of this dividend is Friday, October 9th.

Analyst Ratings Changes

A number of research firms have commented on WPP. 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 assumed coverage on shares of WPP in a research note on Thursday, May 28th. They issued a “buy” rating for the company. Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group started coverage on shares of WPP in a research note on Wednesday, June 3rd. They set a “sell” rating on the stock. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.