WPP (NYSE:WPP) Shares Gap Down - What's Next?

Wpp Plc (NYSE:WPP - Get Free Report)'s share price gapped down before the market opened 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 trading hands.

Wall Street Analysts Forecast Growth

WPP has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of WPP in a research note on Thursday. Barclays restated an "underweight" rating on shares of WPP in a research note on Thursday. The Goldman Sachs Group initiated coverage on WPP in a research note on Wednesday, March 26th. They set a "neutral" rating for the company. Finally, Wall Street Zen downgraded WPP from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

WPP Trading Down 4.4%

The stock has a 50 day moving average of $37.38 and a 200-day moving average of $40.86. The company has a market capitalization of $6.04 billion, a P/E ratio of 4.69 and a beta of 1.00. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Range Financial Group LLC purchased a new position in WPP in the 2nd quarter worth approximately $1,560,000. Jane Street Group LLC lifted its holdings in WPP by 49.0% in the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider's stock worth $2,523,000 after purchasing an additional 21,866 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in WPP in the 1st quarter worth approximately $327,000. Graham Capital Management L.P. lifted its holdings in WPP by 82.2% in the 1st quarter. Graham Capital Management L.P. now owns 30,916 shares of the business services provider's stock worth $1,174,000 after purchasing an additional 13,949 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in WPP by 8.0% in the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider's stock worth $235,000 after purchasing an additional 459 shares in the last quarter. 4.34% of the stock is owned by hedge funds and other institutional investors.

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.