ProVise Management Group LLC Decreases Stock Holdings in WPP plc (NYSE:WPP)

ProVise Management Group LLC trimmed its position in shares of WPP plc (NYSE:WPP) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,892 shares of the business services provider’s stock after selling 11,854 shares during the period. ProVise Management Group LLC’s holdings in WPP were worth $4,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. FMR LLC grew its position in shares of WPP by 7.1% during the 3rd quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock worth $43,365,000 after buying an additional 64,087 shares in the last quarter. Brandes Investment Partners LP boosted its position in WPP by 47.9% during the fourth quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock valued at $27,003,000 after purchasing an additional 183,955 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in WPP in the fourth quarter valued at about $7,486,000. Envestnet Asset Management Inc. raised its position in WPP by 27.4% during the third quarter. Envestnet Asset Management Inc. now owns 132,379 shares of the business services provider’s stock valued at $5,901,000 after acquiring an additional 28,439 shares in the last quarter. Finally, Optiver Holding B.V. grew its holdings in WPP by 732.7% in the third quarter. Optiver Holding B.V. now owns 119,986 shares of the business services provider’s stock valued at $5,349,000 after purchasing an additional 105,577 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.

WPP Trading Up 1.4 %

NYSE:WPP traded up $0.75 on Friday, reaching $52.55. The company’s stock had a trading volume of 51,565 shares, compared to its average volume of 161,651. WPP plc has a 12-month low of $41.13 and a 12-month high of $57.30. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day moving average price of $49.17 and a 200 day moving average price of $47.50.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.00.

WPP Company 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.