Wpp Plc $WPP Shares Bought by ABC Arbitrage SA

ABC Arbitrage SA lifted its stake in Wpp Plc (NYSE:WPP) by 321.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,465 shares of the business services provider’s stock after buying an additional 32,397 shares during the period. ABC Arbitrage SA’s holdings in WPP were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WPP. Bank of New York Mellon Corp lifted its position in WPP by 120.2% during the 1st quarter. Bank of New York Mellon Corp now owns 46,452 shares of the business services provider’s stock worth $1,763,000 after acquiring an additional 25,359 shares in the last quarter. Assetmark Inc. raised its stake in shares of WPP by 88.3% during the first quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 467 shares during the period. Inlet Private Wealth LLC lifted its position in shares of WPP by 31.0% during the first quarter. Inlet Private Wealth LLC now owns 27,900 shares of the business services provider’s stock worth $1,059,000 after purchasing an additional 6,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of WPP during the first quarter worth $612,000. Finally, Invesco Ltd. boosted its stake in shares of WPP by 50.8% in the first quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider’s stock valued at $92,937,000 after purchasing an additional 824,336 shares during the period. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

WPP Trading Down 2.2%

Shares of NYSE WPP opened at $19.46 on Thursday. Wpp Plc has a twelve month low of $17.47 and a twelve month high of $57.37. The business has a 50 day simple moving average of $23.53 and a 200-day simple moving average of $29.78.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays reaffirmed an “underweight” rating on shares of WPP in a research note on Friday, August 8th. Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. Kepler Capital Markets lowered WPP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Finally, Zacks Research downgraded WPP from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, WPP currently has an average rating of “Reduce”.

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.