WPP (NYSE:WPP) Shares Gap Down – What’s Next?

WPP plc (NYSE:WPP)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $48.55, but opened at $40.86. WPP shares last traded at $40.93, with a volume of 131,915 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WPP shares. StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th.

WPP Stock Performance

The company has a market cap of $8.85 billion, a PE ratio of 6.87, a PEG ratio of 7.06 and a beta of 1.25. The stock has a fifty day moving average of $48.15 and a 200-day moving average of $50.06.

Institutional Investors Weigh In On WPP

Several large investors have recently added to or reduced their stakes in WPP. Assetmark Inc. boosted its holdings in shares of WPP by 52,800.0% in the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 528 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of WPP by 453.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider’s stock worth $61,000 after buying an additional 966 shares during the period. GAMMA Investing LLC grew its position in shares of WPP by 92.4% during the 4th 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of WPP during the third quarter valued at $84,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of WPP by 57.0% in the fourth quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider’s stock valued at $111,000 after acquiring an additional 787 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

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.