Bank of New York Mellon Corp Has $1.76 Million Stock Holdings in Wpp Plc (NYSE:WPP)

Key Points

• Bank of New York Mellon Corp increased its stake in WPP Plc by 120.2% during the first quarter, acquiring an additional 25,359 shares and totaling 46,452 shares valued at approximately $1.76 million.
• Several institutional investors have significantly boosted their holdings in WPP, with OLD Mission Capital LLC increasing its position by an astonishing 1,612.8% during the fourth quarter.
• WPP's stock has received mixed ratings from analysts, with one report downgrading it to a "hold" and others maintaining "buy" and "underweight" ratings, resulting in an average rating of "Moderate Buy."

Bank of New York Mellon Corp raised its holdings in Wpp Plc (NYSE:WPP - Free Report) by 120.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,452 shares of the business services provider's stock after acquiring an additional 25,359 shares during the quarter. Bank of New York Mellon Corp's holdings in WPP were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in WPP by 57.0% during the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after buying an additional 787 shares in the last quarter. NewEdge Advisors LLC lifted its stake in WPP by 160.7% during the fourth quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock valued at $173,000 after buying an additional 2,076 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of WPP by 323.1% during the first quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock worth $200,000 after purchasing an additional 4,029 shares during the period. First Trust Advisors LP acquired a new stake in shares of WPP during the fourth quarter worth approximately $309,000. Finally, NBC Securities Inc. boosted its holdings in shares of WPP by 108,722.2% during the first quarter. NBC Securities Inc. now owns 9,794 shares of the business services provider's stock worth $371,000 after purchasing an additional 9,785 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on WPP shares. Wall Street Zen cut shares of WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a research report on Thursday, July 10th. Kepler Capital Markets lowered shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Barclays reissued an "underweight" rating on shares of WPP in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

WPP Stock Performance

Shares of WPP stock traded down $0.33 during midday trading on Friday, hitting $26.75. The company had a trading volume of 415,628 shares, compared to its average volume of 632,024. The business's 50 day simple moving average is $33.87 and its two-hundred day simple moving average is $38.67. The stock has a market cap of $5.77 billion, a PE ratio of 4.48 and a beta of 1.01. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.88 and a quick ratio of 0.88. Wpp Plc has a 1-year low of $26.62 and a 1-year high of $57.37.

About WPP

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.