Wpp Plc (NYSE:WPP) Shares Sold by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners LTD has reduced its stake in WPP PLC by 8.1%, owning approximately $99.99 million in shares, after selling 231,744 shares in the first quarter.
• Several hedge funds have altered their positions in WPP, with Invesco increasing its holdings by 50.8% and Northern Trust Corp raising its position by 83.5%.
• WPP has recently declared a semi-annual dividend of $0.5033 per share, yielding a substantial 1,060.0%, set to be paid on November 3rd.

Mondrian Investment Partners LTD lowered its stake in shares of Wpp Plc (NYSE:WPP - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,634,181 shares of the business services provider's stock after selling 231,744 shares during the period. Mondrian Investment Partners LTD owned about 1.22% of WPP worth $99,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WPP. Assetmark Inc. boosted its holdings in WPP by 88.3% during the first quarter. Assetmark Inc. now owns 996 shares of the business services provider's stock worth $38,000 after buying an additional 467 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock valued at $111,000 after purchasing an additional 787 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of WPP by 160.7% in the fourth quarter. NewEdge Advisors LLC now owns 3,368 shares of the business services provider's stock valued at $173,000 after purchasing an additional 2,076 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of WPP by 323.1% in the first quarter. GAMMA Investing LLC now owns 5,276 shares of the business services provider's stock valued at $200,000 after purchasing an additional 4,029 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of WPP in the fourth quarter valued at about $309,000. Hedge funds and other institutional investors own 4.34% of the company's stock.

WPP Trading Down 0.2%

Shares of NYSE:WPP traded down $0.06 during trading on Friday, reaching $25.46. The stock had a trading volume of 367,506 shares, compared to its average volume of 497,371. The business has a fifty day moving average price of $31.06 and a 200-day moving average price of $37.29. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The stock has a market cap of $5.49 billion, a P/E ratio of 4.26 and a beta of 1.01. Wpp Plc has a fifty-two week low of $24.28 and a fifty-two week high of $57.37.

WPP Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.5033 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a yield of 1,060.0%. WPP's dividend payout ratio is 8.21%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WPP. Wall Street Zen downgraded shares of WPP from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a report on Thursday, July 10th. Barclays reaffirmed an "underweight" rating on shares of WPP in a report on Friday, August 8th. Finally, Kepler Capital Markets lowered shares of WPP from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

WPP 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.