Quantinno Capital Management LP trimmed its stake in Wpp Plc (NYSE:WPP – Free Report) by 88.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,543 shares of the business services provider’s stock after selling 128,571 shares during the period. Quantinno Capital Management LP’s holdings in WPP were worth $257,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC bought a new stake in WPP during the 1st quarter valued at $1,147,000. Renaissance Technologies LLC purchased a new stake in shares of WPP during the first quarter worth about $1,619,000. Arrowstreet Capital Limited Partnership acquired a new stake in WPP in the 1st quarter worth approximately $609,000. M&T Bank Corp grew its position in WPP by 344.9% during the 4th quarter. M&T Bank Corp now owns 52,491 shares of the business services provider’s stock worth $1,179,000 after purchasing an additional 40,693 shares during the last quarter. Finally, Mondrian Investment Partners LTD raised its holdings in shares of WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock worth $72,775,000 after buying an additional 48,714 shares during the last quarter. Institutional investors own 4.34% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on WPP shares. Rothschild & Co Redburn began coverage on WPP in a research report on Thursday, May 28th. They issued a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on WPP in a report on Wednesday, June 3rd. They issued a “sell” rating on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. Citigroup reiterated a “neutral” rating on shares of WPP in a report on Monday, August 10th. Finally, Berenberg Bank initiated coverage on shares of WPP in a research note on Tuesday, June 9th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.
WPP Stock Up 2.5%
Shares of WPP stock opened at $27.03 on Tuesday. Wpp Plc has a twelve month low of $14.81 and a twelve month high of $27.78. The stock has a 50 day moving average of $20.50 and a 200 day moving average of $18.62. 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 announced a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be given a $0.5052 dividend. The ex-dividend date is Friday, October 9th. This represents a dividend yield of 390.0%.
WPP Company Profile
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.
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