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

WPP plc (NYSE:WPP)’s share price gapped down prior to trading on Monday . The stock had previously closed at $50.40, but opened at $49.11. WPP shares last traded at $48.88, with a volume of 27,498 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

WPP Price Performance

The firm has a market cap of $10.63 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 8.03 and a beta of 1.27. The company has a 50-day simple moving average of $53.40 and a 200-day simple moving average of $50.06.

Hedge Funds Weigh In On WPP

Several hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of WPP during the third quarter valued at $1,479,000. Sanctuary Advisors LLC boosted its position in WPP by 45.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider’s stock valued at $335,000 after buying an additional 2,007 shares during the period. Envestnet Asset Management Inc. grew its stake in WPP by 15.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after acquiring an additional 27,384 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of WPP by 9.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,765 shares of the business services provider’s stock worth $1,592,000 after acquiring an additional 2,862 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of WPP by 72.0% during the second quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider’s stock valued at $9,247,000 after acquiring an additional 80,102 shares in the last quarter. Institutional investors 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.