39,171 Shares in Wpp Plc $WPP Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership purchased a new stake in shares of Wpp Plc (NYSE:WPP) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 39,171 shares of the business services provider’s stock, valued at approximately $609,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of WPP by 0.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock valued at $255,164,000 after purchasing an additional 47,289 shares during the last quarter. Mondrian Investment Partners LTD raised its holdings in WPP by 1.5% in the fourth quarter. Mondrian Investment Partners LTD now owns 3,240,219 shares of the business services provider’s stock worth $72,775,000 after buying an additional 48,714 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in WPP by 12.3% in the third quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock worth $21,555,000 after buying an additional 94,162 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of WPP by 7.5% in the fourth quarter. Royal Bank of Canada now owns 481,076 shares of the business services provider’s stock worth $10,805,000 after buying an additional 33,433 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of WPP by 10.8% during the second quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock valued at $16,486,000 after buying an additional 45,866 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company’s stock.

WPP News Roundup

Here are the key news stories impacting WPP this week:

• Positive Sentiment: WPP said its revenue decline eased, with first-half revenue less pass-through costs down 4.7% on a like-for-like basis—better than the previously expected mid-to-high single-digit decline. Improving media-buying performance provided early evidence that the turnaround plan is working. WPP revenue decline eases as turnaround gains traction
• Positive Sentiment: Second-quarter results beat revenue expectations, reporting $4.22 billion versus a $3.23 billion consensus estimate. The better-than-expected top-line performance appears to have driven the strong investor reaction and lifted the stock toward its 52-week high. WPP quarterly earnings results
• Positive Sentiment: WPP announced a dividend of $0.5052 per share, payable November 2 to shareholders of record October 9. The reported 390% yield appears inconsistent with the quoted payment and should be independently verified before being used in valuation.
• Neutral Sentiment: WPP Media appointed Bhushan Bagkar as vice president of strategy, a personnel change that may support execution but is unlikely to materially affect near-term earnings. Bhushan Bagkar appointed vice president of strategy
• Negative Sentiment: Adjusted earnings of $0.50 per share missed the $0.81 consensus estimate by $0.31, indicating that profitability and margins remain under pressure despite the revenue improvement.
• Negative Sentiment: UBS maintained its “sell” rating, saying it is too early to call the turnaround successful. Although it raised its price target to 250 pence from 210 pence, the target remains well below the current London-listed share price, creating a significant valuation warning after the rally. UBS keeps sell rating on WPP

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WPP shares. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a report on Tuesday, June 16th. The Goldman Sachs Group assumed coverage on shares of WPP in a research report on Wednesday, June 3rd. They set a “sell” rating on the stock. Berenberg Bank initiated 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 shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating for the company. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

WPP Trading Up 6.3%

Shares of WPP opened at $27.57 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50-day simple moving average of $18.70 and a two-hundred day simple moving average of $18.19. Wpp Plc has a 52 week low of $14.81 and a 52 week high of $27.78.

WPP Cuts Dividend

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

WPP Company Profile

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.