Wpp Plc (WPPGY) Shares Sold by CIBC Asset Management Inc
CIBC Asset Management Inc cut its stake in Wpp Plc (NASDAQ:WPPGY) by 8.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,810 shares of the business services provider’s stock after selling 880 shares during the period. CIBC Asset Management Inc’s holdings in Wpp Plc were worth $1,034,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of WPPGY. Geode Capital Management LLC boosted its stake in Wpp Plc by 11.6% in the first quarter. Geode Capital Management LLC now owns 12,846 shares of the business services provider’s stock valued at $1,405,000 after buying an additional 1,332 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Wpp Plc by 3.6% in the first quarter. Nuveen Asset Management LLC now owns 8,294 shares of the business services provider’s stock valued at $901,000 after buying an additional 285 shares during the last quarter. Cardinal Capital Management Inc. boosted its stake in Wpp Plc by 19.6% in the second quarter. Cardinal Capital Management Inc. now owns 54,060 shares of the business services provider’s stock valued at $5,698,000 after buying an additional 8,845 shares during the last quarter. Capital One National Association purchased a new stake in Wpp Plc during the second quarter valued at about $244,000. Finally, Simplex Trading LLC boosted its stake in Wpp Plc by 58.6% in the second quarter. Simplex Trading LLC now owns 1,473 shares of the business services provider’s stock valued at $155,000 after buying an additional 544 shares during the last quarter. Institutional investors own 3.95% of the company’s stock.
Shares of Wpp Plc (NASDAQ WPPGY) opened at 101.81 on Friday. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 14.28 and a beta of 1.19. The stock’s 50 day moving average is $102.83 and its 200 day moving average is $108.41. Wpp Plc has a 52-week low of $99.94 and a 52-week high of $121.55.
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WPPGY has been the topic of several research analyst reports. Zacks Investment Research cut Wpp Plc from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. ValuEngine cut Wpp Plc from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub cut Wpp Plc from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. UBS AG initiated coverage on Wpp Plc in a report on Tuesday, June 13th. They issued a “buy” rating on the stock. Finally, BNP Paribas cut Wpp Plc from an “outperform” rating to an “underperform” rating in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $121.50.
Wpp Plc Company Profile
WPP PLC is a parent company that, through its subsidiaries, is engaged in the provision of communications and marketing services worldwide. The Company has four segments: Advertising and Media Investment Management; Consumer Insight (formerly Information, Insight & Consultancy); Public Relations & Public Affairs, and Branding & Identity, Healthcare and Specialist Communications, which includes WPP Digital and direct, digital, promotional and relationship marketing.
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