WPP (NYSE:WPP) Shares Gap Down – Here’s Why

Wpp Plc (NYSE:WPP) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.61, but opened at $18.95. WPP shares last traded at $18.7780, with a volume of 106,322 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Zacks Research raised WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup assumed coverage on shares of WPP in a research report on Monday, January 12th. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

WPP Price Performance

The business’s fifty day moving average price is $21.42 and its 200 day moving average price is $23.26.

Institutional Investors Weigh In On WPP

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in WPP by 185.0% during the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 814 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of WPP in the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. increased its holdings in shares of WPP by 323.9% in the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 1,111 shares during the period. Farther Finance Advisors LLC raised its stake in shares of WPP by 184.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock worth $42,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of WPP by 38.9% during the third quarter. Allworth Financial LP now owns 1,852 shares of the business services provider’s stock worth $46,000 after purchasing an additional 519 shares during the period. Institutional investors and hedge funds own 4.34% of the company’s stock.

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.