Wpp Plc $WPP Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management trimmed its stake in shares of Wpp Plc (NYSE:WPP) by 87.9% during the 3rd quarter, Holdings Channel reports. The fund owned 12,455 shares of the business services provider’s stock after selling 90,192 shares during the quarter. Meritage Portfolio Management’s holdings in WPP were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Osaic Holdings Inc. grew its stake in shares of WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares during the period. Traub Capital Management LLC acquired a new stake in WPP during the second quarter valued at $52,000. Blue Trust Inc. grew its position in WPP by 41.9% during the second quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock valued at $70,000 after buying an additional 588 shares during the period. Assetmark Inc. increased its holdings in WPP by 120.7% in the second quarter. Assetmark Inc. now owns 2,198 shares of the business services provider’s stock valued at $77,000 after buying an additional 1,202 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of WPP by 99.4% in the second quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock worth $82,000 after acquiring an additional 1,173 shares during the period. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Stock Down 1.3%

Shares of WPP stock opened at $21.21 on Friday. Wpp Plc has a twelve month low of $17.47 and a twelve month high of $49.12. The firm’s 50-day moving average price is $21.16 and its 200 day moving average price is $24.30.

Analyst Ratings Changes

A number of research firms have recently commented on WPP. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Citigroup initiated coverage on WPP in a report on Monday, January 12th. They issued a “neutral” rating for the company. Wall Street Zen raised WPP from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

WPP Company Profile

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.