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

WPP plc (NYSE:WPP - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $40.41, but opened at $39.51. WPP shares last traded at $39.51, with a volume of 62,623 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on WPP shares. Wall Street Zen lowered WPP from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays downgraded WPP from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group assumed coverage on WPP in a research note 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

WPP Price Performance

The company has a fifty day simple moving average of $37.76 and a two-hundred day simple moving average of $44.35. The company has a market capitalization of $8.45 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 7.06 and a beta of 1.04.

Institutional Trading of WPP

Large investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of WPP by 14.1% in the fourth quarter. Blue Trust Inc. now owns 4,024 shares of the business services provider's stock worth $206,000 after purchasing an additional 498 shares during the period. Caprock Group LLC increased its position in WPP by 5.4% during the fourth quarter. Caprock Group LLC now owns 6,885 shares of the business services provider's stock worth $354,000 after acquiring an additional 350 shares during the period. Optas LLC bought a new stake in shares of WPP in the fourth quarter valued at about $234,000. Mezzasalma Advisors LLC raised its holdings in WPP by 36.6% in the 4th quarter. Mezzasalma Advisors LLC now owns 7,225 shares of the business services provider's stock valued at $371,000 after acquiring an additional 1,934 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of WPP by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 21,093 shares of the business services provider's stock worth $1,084,000 after acquiring an additional 1,784 shares during the period. 4.34% of the stock is owned by 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.