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

Key Points

• WPP gapped up pre-market — it closed at $16.20, opened at $16.88 and was last trading around $16.61 on volume of ~90,141 shares, roughly a 1.5% intraday rise.
• Analyst consensus is "Hold" (one Buy, four Holds, one Sell); recent notable moves include Barclays upgrading to Equal Weight and Wall Street Zen and Zacks moving to Hold while Weiss reiterated a Sell.
• Mixed institutional/technical signals: several funds (e.g., Jane Street +49%) increased stakes even though institutional ownership is just 4.34%, and the stock trades below its 50‑day ($17.46) and 200‑day ($20.31) moving averages with a debt/equity of 1.48.

Shares of Wpp Plc (NYSE:WPP - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $16.20, but opened at $16.88. WPP shares last traded at $16.61, with a volume of 90,141 shares traded.

Analyst Ratings Changes

WPP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of WPP in a report on Wednesday, January 21st. Barclays upgraded WPP from an "underweight" rating to an "equal weight" rating in a report on Friday, February 27th. Wall Street Zen upgraded WPP from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Citigroup assumed coverage on WPP in a research note on Monday, January 12th. They issued a "neutral" rating on the stock. Finally, Zacks Research upgraded WPP from a "strong sell" rating to a "hold" rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold".

WPP Trading Up 1.5%

The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day moving average of $17.46 and a two-hundred day moving average of $20.31.

Hedge Funds Weigh In On WPP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Jane Street Group LLC lifted its position 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 valued at $2,523,000 after acquiring an additional 21,866 shares in the last quarter. Cetera Investment Advisers lifted its position in WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider's stock valued at $272,000 after acquiring an additional 654 shares in the last quarter. JPMorgan Chase & Co. lifted its position in WPP by 58.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,397 shares of the business services provider's stock valued at $224,000 after acquiring an additional 2,355 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of WPP by 99.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider's stock valued at $82,000 after buying an additional 1,173 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of WPP by 11.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,558 shares of the business services provider's stock valued at $405,000 after buying an additional 1,185 shares during the period. 4.34% of the stock is owned by institutional investors.

About WPP

WPP plc NYSE: WPP is a British multinational advertising and public relations company headquartered in London, England. Recognized as one of the world's largest communications services groups, WPP provides a wide array of marketing, advertising, media investment management and data consultancy services. Through its integrated network of agencies—among them Ogilvy, Grey, GroupM and Wavemaker—the company delivers creative content, brand strategy, digital transformation and media planning solutions to clients across virtually every industry.

Established in 1971 by Martin Sorrell as Wire and Plastic Products, the firm underwent a strategic transformation in the 1980s, focusing on acquisitions that expanded its capabilities into advertising and communications.

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