WPP (NYSE:WPP) Shares Gap Down - Time to Sell?

WPP plc (NYSE:WPP - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $37.78, but opened at $37.00. WPP shares last traded at $37.08, with a volume of 82,801 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen cut WPP from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Barclays cut WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group initiated coverage on WPP in a research report on Wednesday, March 26th. They issued a "neutral" rating for the company. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy".

WPP Trading Down 2.4%

The company has a 50-day moving average price of $37.83 and a two-hundred day moving average price of $44.03. The stock has a market capitalization of $7.96 billion, a P/E ratio of 6.18, a price-to-earnings-growth ratio of 7.06 and a beta of 1.05.

Institutional Trading of WPP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Assetmark Inc. boosted its holdings in WPP by 52,800.0% in the fourth quarter. Assetmark Inc. now owns 529 shares of the business services provider's stock worth $27,000 after acquiring an additional 528 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in WPP by 453.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,179 shares of the business services provider's stock worth $61,000 after acquiring an additional 966 shares in the last quarter. Brooklyn Investment Group boosted its holdings in WPP by 3,450.0% in the first quarter. Brooklyn Investment Group now owns 1,917 shares of the business services provider's stock worth $73,000 after acquiring an additional 1,863 shares in the last quarter. Quantbot Technologies LP bought a new position in WPP in the first quarter worth approximately $75,000. Finally, Russell Investments Group Ltd. increased its holdings in WPP by 57.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,168 shares of the business services provider's stock worth $111,000 after purchasing an additional 787 shares in the last quarter. 4.34% of the stock is owned by 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.

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