ABC Arbitrage SA Acquires Shares of 10,068 Wpp Plc (NYSE:WPP)

Key Points

• ABC Arbitrage SA purchased 10,068 shares of Wpp Plc, worth approximately $382,000, during the first quarter, marking a new investment position in the company.
• Several institutional investors, including Invesco Ltd. and Northern Trust Corp, have significantly increased their holdings in WPP, indicating growing investor interest.
• WPP's stock currently holds an average analyst rating of "Hold," with varied opinions from research firms on its future performance.

ABC Arbitrage SA bought a new position in Wpp Plc (NYSE:WPP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,068 shares of the business services provider's stock, valued at approximately $382,000.

Other large investors have also made changes to their positions in the company. Invesco Ltd. boosted its position in WPP by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,623,960 shares of the business services provider's stock worth $83,472,000 after acquiring an additional 172,212 shares during the period. Northern Trust Corp increased its holdings in shares of WPP by 83.5% in the 4th quarter. Northern Trust Corp now owns 253,640 shares of the business services provider's stock valued at $13,037,000 after purchasing an additional 115,416 shares during the period. Optiver Holding B.V. lifted its position in shares of WPP by 104.6% in the fourth quarter. Optiver Holding B.V. now owns 141,488 shares of the business services provider's stock worth $7,272,000 after purchasing an additional 72,342 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of WPP during the fourth quarter worth approximately $2,292,000. Finally, Dimensional Fund Advisors LP grew its position in WPP by 7.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 484,996 shares of the business services provider's stock valued at $24,928,000 after purchasing an additional 35,412 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on WPP. Barclays reiterated an "underweight" rating on shares of WPP in a research report on Thursday, July 10th. Kepler Capital Markets lowered WPP from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen cut WPP from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold".

WPP Stock Performance

WPP stock opened at $26.92 on Wednesday. The firm has a 50 day moving average of $33.33 and a two-hundred day moving average of $38.42. Wpp Plc has a 12 month low of $26.48 and a 12 month high of $57.37. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 4.51 and a beta of 1.01. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.00.

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.

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