WPP (NYSE:WPP) Shares Gap Down to $51.54

WPP plc (NYSE:WPPGet Free Report)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $51.54, but opened at $50.48. WPP shares last traded at $50.85, with a volume of 9,984 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered WPP from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.00.

Check Out Our Latest Report on WPP

WPP Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50 day moving average is $50.41 and its 200 day moving average is $48.09.

Hedge Funds Weigh In On WPP

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mondrian Investment Partners LTD grew its stake in shares of WPP by 46.5% during the first quarter. Mondrian Investment Partners LTD now owns 3,350,015 shares of the business services provider’s stock worth $158,791,000 after purchasing an additional 1,062,708 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of WPP by 40.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,648 shares of the business services provider’s stock worth $54,974,000 after purchasing an additional 332,914 shares in the last quarter. FMR LLC boosted its stake in WPP by 7.1% in the third quarter. FMR LLC now owns 972,751 shares of the business services provider’s stock valued at $43,365,000 after acquiring an additional 64,087 shares in the last quarter. Brandes Investment Partners LP boosted its stake in WPP by 47.9% in the fourth quarter. Brandes Investment Partners LP now owns 567,653 shares of the business services provider’s stock valued at $27,003,000 after acquiring an additional 183,955 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in WPP by 5.1% in the first quarter. Raymond James & Associates now owns 185,454 shares of the business services provider’s stock valued at $8,790,000 after acquiring an additional 8,930 shares in the last quarter. Institutional investors and hedge funds own 4.34% of the company’s stock.

About WPP

(Get Free Report)

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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