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

WPP plc (NYSE:WPP) 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 trading hands.

Analyst Upgrades and Downgrades

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

WPP Stock Down 1.5 %

The company has a 50-day moving average price of $53.15 and a two-hundred day moving average price of $50.06. The company has a market capitalization of $9.91 billion, a PE ratio of 7.81, a PEG ratio of 8.03 and a beta of 1.27.

Institutional Investors Weigh In On WPP

A number of institutional investors and hedge funds have recently modified their holdings of WPP. GAMMA Investing LLC increased its stake in WPP by 45.3% in the 3rd quarter. GAMMA Investing LLC now owns 648 shares of the business services provider’s stock worth $33,000 after acquiring an additional 202 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in WPP in the third quarter valued at approximately $84,000. Blue Trust Inc. raised its stake in WPP by 378.4% in the third quarter. Blue Trust Inc. now owns 3,526 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 2,789 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in WPP by 27.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,509 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 753 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in WPP in the 2nd quarter worth approximately $201,000. 4.34% of the stock is owned by hedge funds and other 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.