Global Trust Asset Management LLC Cuts Stake in WPP plc (NYSE:WPP)

Global Trust Asset Management LLC cut its holdings in WPP plc (NYSE:WPP) by 75.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,068 shares of the business services provider’s stock after selling 3,226 shares during the quarter. Global Trust Asset Management LLC’s holdings in WPP were worth $55,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of WPP in the 3rd quarter valued at about $1,479,000. Sanctuary Advisors LLC increased its holdings in WPP by 45.7% during the third quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider’s stock valued at $335,000 after buying an additional 2,007 shares during the period. Envestnet Asset Management Inc. raised its stake in WPP by 15.9% in the second quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after buying an additional 27,384 shares in the last quarter. GAMMA Investing LLC lifted its holdings in WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock worth $64,000 after buying an additional 599 shares during the period. Finally, HighTower Advisors LLC boosted its position in WPP by 22.5% during the 3rd quarter. HighTower Advisors LLC now owns 19,658 shares of the business services provider’s stock valued at $1,001,000 after acquiring an additional 3,615 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors.

WPP Stock Performance

NYSE:WPP opened at $45.17 on Thursday. The company’s 50-day simple moving average is $51.33 and its 200-day simple moving average is $49.94. WPP plc has a fifty-two week low of $43.02 and a fifty-two week high of $57.37.

Wall Street Analyst Weigh In

Separately, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

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.