Mondrian Investment Partners LTD Purchases New Position in Wpp Plc $WPP

Mondrian Investment Partners LTD acquired a new stake in Wpp Plc (NYSE:WPP) in the third quarter, according to its most recent filing with the SEC. The fund acquired 3,191,505 shares of the business services provider’s stock, valued at approximately $79,947,000. Mondrian Investment Partners LTD owned approximately 1.48% of WPP at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Creative Planning lifted its holdings in shares of WPP by 83.3% in the second quarter. Creative Planning now owns 32,594 shares of the business services provider’s stock worth $1,141,000 after buying an additional 14,816 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in WPP by 26.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider’s stock worth $5,829,000 after acquiring an additional 34,737 shares during the period. Brandes Investment Partners LP lifted its stake in WPP by 12.2% in the 2nd quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock worth $21,930,000 after purchasing an additional 68,271 shares in the last quarter. ABC Arbitrage SA lifted its stake in WPP by 321.8% in the 2nd quarter. ABC Arbitrage SA now owns 42,465 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 32,397 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in WPP by 95.9% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,567 shares of the business services provider’s stock valued at $1,105,000 after purchasing an additional 15,453 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

Analyst Ratings Changes

WPP has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Citigroup assumed coverage on WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

WPP Stock Up 5.6%

Shares of WPP stock opened at $18.82 on Tuesday. The business has a 50-day moving average price of $21.26 and a two-hundred day moving average price of $22.67. Wpp Plc has a 12-month low of $17.25 and a 12-month high of $49.12.

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.