Quantinno Capital Management LP Decreases Stock Holdings in Wpp Plc $WPP

Quantinno Capital Management LP cut its stake in Wpp Plc (NYSE:WPP) by 88.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in WPP. Caitong International Asset Management Co. Ltd acquired a new position in WPP during the third quarter worth $28,000. Osaic Holdings Inc. boosted 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 acquiring an additional 717 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of WPP by 1,279.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 1,689 shares during the period. Farther Finance Advisors LLC increased its position in WPP by 184.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in WPP by 455.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,318 shares of the business services provider’s stock worth $52,000 after purchasing an additional 1,901 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP Trading Up 2.5%

WPP stock opened at $27.03 on Tuesday. 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 Plc has a fifty-two week low of $14.81 and a fifty-two week high of $27.78. The firm has a 50 day moving average price of $20.50 and a 200 day moving average price of $18.62.

WPP Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be given a dividend of $0.5052 per share. This represents a dividend yield of 390.0%. The ex-dividend date is Friday, October 9th.

Analyst Ratings Changes

Several analysts have recently weighed in on WPP shares. Citigroup reissued a “neutral” rating on shares of WPP in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. The Goldman Sachs Group initiated coverage on WPP in a research report on Wednesday, June 3rd. They set a “sell” rating for the company. Berenberg Bank started coverage on shares of WPP in a report on Tuesday, June 9th. They issued a “buy” rating on the stock. Finally, Rothschild & Co Redburn assumed coverage on shares of WPP in a research report on Thursday, May 28th. They issued a “buy” rating on the stock. Two investment 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. Based on data from MarketBeat, WPP presently 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.