Meritage Portfolio Management Decreases Stock Holdings in Wpp Plc $WPP

Meritage Portfolio Management reduced its position in Wpp Plc (NYSE:WPP) by 87.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,455 shares of the business services provider’s stock after selling 90,192 shares during the period. Meritage Portfolio Management’s holdings in WPP were worth $312,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brandes Investment Partners LP boosted its stake in WPP by 12.2% in the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock valued at $21,930,000 after acquiring an additional 68,271 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of WPP by 10.8% during the 2nd quarter. Bank of America Corp DE now owns 470,900 shares of the business services provider’s stock valued at $16,486,000 after purchasing an additional 45,866 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of WPP by 26.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,489 shares of the business services provider’s stock worth $5,829,000 after purchasing an additional 34,737 shares in the last quarter. Jane Street Group LLC grew its stake in WPP by 49.4% during the 2nd quarter. Jane Street Group LLC now owns 99,267 shares of the business services provider’s stock worth $3,475,000 after buying an additional 32,804 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in WPP by 167.7% during the 2nd quarter. Quantinno Capital Management LP now owns 55,605 shares of the business services provider’s stock valued at $1,947,000 after buying an additional 34,831 shares in the last quarter. Institutional investors own 4.34% of the company’s stock.

Wall Street Analyst Weigh In

WPP has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a report on Wednesday, October 8th. Citigroup began coverage on shares of WPP in a research report on Monday, January 12th. They set a “neutral” rating on the stock. Wall Street Zen raised shares of WPP from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

WPP Price Performance

WPP opened at $21.21 on Friday. Wpp Plc has a 12-month low of $17.47 and a 12-month high of $49.12. The firm has a 50 day moving average of $21.16 and a two-hundred day moving average of $24.30.

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.