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

WPP plc (NYSE:WPP)’s stock 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.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WPP. StockNews.com lowered shares of WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. Kepler Capital Markets raised WPP from a “hold” rating to a “buy” rating in a 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 business’s 50-day moving average is $48.15 and its 200 day moving average is $50.06.

Hedge Funds Weigh In On WPP

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new position in WPP during the 3rd quarter valued at $1,479,000. Sanctuary Advisors LLC raised its holdings in WPP by 45.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider’s stock worth $335,000 after acquiring an additional 2,007 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after buying an additional 599 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of WPP by 22.5% in the third quarter. HighTower Advisors LLC now owns 19,658 shares of the business services provider’s stock worth $1,001,000 after acquiring an additional 3,615 shares during the period. Finally, Stifel Financial Corp raised its stake in WPP by 67.6% during the 3rd quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider’s stock valued at $2,863,000 after buying an additional 22,578 shares during 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.