Bank of New York Mellon Corp lowered its stake in Wpp Plc (NYSE:WPP) by 65.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,322 shares of the business services provider’s stock after selling 11,767 shares during the period. Bank of New York Mellon Corp’s holdings in WPP were worth $397,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Nkcfo LLC bought a new stake in WPP in the second quarter valued at $44,000. Signaturefd LLC boosted its holdings in shares of WPP by 11.9% during the 2nd quarter. Signaturefd LLC now owns 1,715 shares of the business services provider’s stock valued at $108,000 after buying an additional 183 shares in the last quarter. Semmax Financial Advisors Inc. boosted its holdings in shares of WPP by 83.6% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 2,113 shares of the business services provider’s stock valued at $133,000 after buying an additional 962 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of WPP during the 2nd quarter valued at $173,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of WPP during the 2nd quarter valued at $200,000. Institutional investors and hedge funds own 3.96% of the company’s stock.
A number of analysts have recently commented on WPP shares. ValuEngine cut shares of WPP from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. Zacks Investment Research upgraded shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. WPP presently has a consensus rating of “Hold”.
WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media Investment Management; Data Investment Management; Public Relations & Public Affairs; and Branding Consulting, Health & Wellness and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media planning and buying, and specialist sponsorship, and branded entertainment services.
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