Meritage Portfolio Management Boosts Stake in WPP plc (NYSE:WPP)

Meritage Portfolio Management lifted its stake in shares of WPP plc (NYSE:WPP) by 72.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,710 shares of the business services provider’s stock after purchasing an additional 39,894 shares during the period. Meritage Portfolio Management’s holdings in WPP were worth $4,845,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Brandes Investment Partners LP grew its holdings in WPP by 7.0% in the 2nd quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock valued at $30,232,000 after buying an additional 42,690 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of WPP by 24.5% in the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock valued at $14,759,000 after purchasing an additional 63,363 shares during the period. Envestnet Asset Management Inc. increased its position in WPP by 15.9% during the second quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after purchasing an additional 27,384 shares during the last quarter. Bank of Montreal Can raised its stake in WPP by 72.0% during the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock worth $9,247,000 after purchasing an additional 80,102 shares during the period. Finally, Capital International Investors boosted its holdings in WPP by 4.9% in the 1st quarter. Capital International Investors now owns 125,589 shares of the business services provider’s stock valued at $5,953,000 after purchasing an additional 5,902 shares during the last quarter. 4.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WPP shares. Citigroup upgraded shares of WPP to a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com downgraded WPP from a “buy” rating to a “hold” rating in a research report on Sunday.

WPP Trading Down 2.0 %

WPP stock traded down $1.09 during mid-day trading on Friday, hitting $54.55. 178,364 shares of the company were exchanged, compared to its average volume of 118,408. WPP plc has a 12-month low of $42.49 and a 12-month high of $55.74. The business has a fifty day simple moving average of $50.98 and a 200-day simple moving average of $49.47.

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.