Sei Investments Co. Buys 26,031 Shares of Wpp Plc $WPP

Sei Investments Co. raised its stake in Wpp Plc (NYSE:WPP) by 115.7% during the first quarter, HoldingsChannel reports. The fund owned 48,528 shares of the business services provider’s stock after buying an additional 26,031 shares during the period. Sei Investments Co.’s holdings in WPP were worth $755,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WPP. Bank of Montreal Can raised its position in shares of WPP by 385.3% in the 4th quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock worth $10,134,000 after purchasing an additional 358,218 shares during the last quarter. Balyasny Asset Management L.P. grew its position in WPP by 1,082.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock valued at $5,714,000 after purchasing an additional 232,878 shares during the last quarter. ABC Arbitrage SA purchased a new stake in WPP during the 4th quarter valued at about $5,199,000. Tower Research Capital LLC TRC increased its stake in WPP by 3,840.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock valued at $3,058,000 after purchasing an additional 132,680 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in WPP during the 4th quarter valued at about $2,123,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of WPP in a research note on Wednesday, June 3rd. They issued a “sell” rating on the stock. Citigroup restated a “neutral” rating on shares of WPP in a report on Monday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of WPP in a research report on Tuesday, June 16th. Berenberg Bank assumed coverage on shares of WPP in a research report on Tuesday, June 9th. They issued a “buy” rating for the company. Finally, Rothschild & Co Redburn began coverage on WPP in a research note on Thursday, May 28th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, WPP currently has a consensus rating of “Hold”.

WPP Trading Up 0.4%

Shares of NYSE:WPP opened at $26.99 on Friday. The firm has a fifty day moving average price of $19.37 and a 200 day moving average price of $18.33. Wpp Plc has a fifty-two week low of $14.81 and a fifty-two week high of $27.78. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.89 and a current ratio of 0.87.

WPP Cuts Dividend

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

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.