Meritage Portfolio Management Increases Position in WPP plc (NYSE:WPP)

Meritage Portfolio Management increased its stake in WPP plc (NYSE:WPP - Free Report) by 72.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 94,710 shares of the business services provider's stock after buying an additional 39,894 shares during the quarter. Meritage Portfolio Management's holdings in WPP were worth $4,845,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WPP. Brandes Investment Partners LP grew its stake 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 lifted its position in shares of WPP by 24.5% during the second quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider's stock worth $14,759,000 after acquiring an additional 63,363 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of 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 acquiring an additional 27,384 shares during the period. Bank of Montreal Can grew its position in shares of WPP by 72.0% in the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider's stock valued at $9,247,000 after purchasing an additional 80,102 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of WPP by 4.9% during 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 period. Institutional investors own 4.34% of the company's stock.

WPP Trading Down 2.0 %

Shares of WPP stock traded down $1.09 on Friday, reaching $54.55. The company's stock had a trading volume of 178,364 shares, 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 stock's 50 day simple moving average is $50.98 and its 200-day simple moving average is $49.46.

Wall Street Analyst Weigh In

WPP has been the subject of a number of recent analyst reports. Citigroup raised WPP to a "strong-buy" rating in a report on Thursday, August 8th. StockNews.com lowered shares of WPP from a "buy" rating to a "hold" rating in a research report on Sunday.

About WPP

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.