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

Shares of Wpp Plc (NYSE:WPP) gapped down before the market opened on Thursday . The stock had previously closed at $19.49, but opened at $18.59. WPP shares last traded at $18.85, with a volume of 97,245 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WPP shares. Kepler Capital Markets downgraded shares of WPP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating on shares of WPP in a report on Friday, August 8th. Wall Street Zen cut WPP from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, Zacks Research cut WPP from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

WPP Trading Up 2.2%

The business’s 50-day moving average price is $23.21 and its 200 day moving average price is $29.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. raised 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 last quarter. Assetmark Inc. raised its stake in WPP by 88.3% in the first quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock valued at $38,000 after buying an additional 467 shares during the period. Osaic Holdings Inc. lifted its holdings in WPP by 105.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 717 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of WPP by 47.7% during the 3rd quarter. Rothschild Investment LLC now owns 2,038 shares of the business services provider’s stock worth $51,000 after buying an additional 658 shares during the period. Finally, Traub Capital Management LLC bought a new position in shares of WPP during the second quarter worth approximately $52,000. Institutional investors own 4.34% of the company’s stock.

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.