WPP (NYSE:WPP) Shares Gap Down - Should You Sell?

Wpp Plc (NYSE:WPP - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $35.82, but opened at $29.93. WPP shares last traded at $29.92, with a volume of 594,365 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WPP. Wall Street Zen lowered shares of WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays reissued an "underweight" rating on shares of WPP in a report on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of WPP in a report on Thursday. Finally, The Goldman Sachs Group initiated coverage on shares of WPP in a report on Wednesday, March 26th. They set a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

WPP Stock Performance

The firm's 50-day moving average price is $37.60 and its two-hundred day moving average price is $41.02. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 4.74 and a beta of 1.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WPP. Bank of New York Mellon Corp lifted its position in WPP by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 21,093 shares of the business services provider's stock valued at $1,084,000 after buying an additional 1,784 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in WPP by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,937 shares of the business services provider's stock worth $973,000 after purchasing an additional 2,956 shares during the period. Assetmark Inc. increased its stake in WPP by 52,800.0% during the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider's stock worth $27,000 after purchasing an additional 528 shares during the period. M&T Bank Corp increased its stake in WPP by 1.9% during the fourth quarter. M&T Bank Corp now owns 12,506 shares of the business services provider's stock worth $642,000 after purchasing an additional 228 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in WPP during the fourth quarter worth about $8,724,000. Institutional investors and hedge funds own 4.34% of the company's stock.

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.