ABC Arbitrage SA Makes New Investment in Wpp Plc $WPP

ABC Arbitrage SA acquired a new stake in shares of Wpp Plc (NYSE:WPP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 231,489 shares of the business services provider’s stock, valued at approximately $5,199,000.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its stake in shares of WPP by 38.9% during the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after purchasing an additional 519 shares in the last quarter. Cetera Investment Advisers boosted its holdings in WPP by 9.2% in the 2nd 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 during the last quarter. Rothschild Investment LLC boosted its holdings in WPP by 47.7% in the 3rd quarter. Rothschild Investment LLC now owns 2,038 shares of the business services provider’s stock worth $51,000 after buying an additional 658 shares during the last quarter. Osaic Holdings Inc. increased its stake in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after buying an additional 717 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in WPP by 6.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,704 shares of the business services provider’s stock worth $343,000 after buying an additional 776 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

WPP Stock Performance

NYSE:WPP opened at $17.90 on Tuesday. Wpp Plc has a one year low of $14.81 and a one year high of $40.94. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.48. The stock has a 50 day moving average price of $16.93 and a 200 day moving average price of $19.30.

WPP Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, July 6th. Shareholders of record on Friday, June 5th will be paid a $0.5079 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a dividend yield of 616.0%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Barclays raised WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday, February 27th. Citigroup reaffirmed a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. Finally, Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, WPP currently has an average rating of “Hold”.

WPP 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.