WPP (NYSE:WPP) Shares Gap Up – What’s Next?

Wpp Plc (NYSE:WPP)’s share price gapped up prior to trading 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.

Analyst Ratings Changes

A number of brokerages recently commented on WPP. Wall Street Zen raised WPP from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Citigroup initiated coverage on WPP in a research report on Monday, January 12th. They set a “neutral” rating for the company. Barclays upgraded WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, WPP has an average rating of “Hold”.

WPP Stock 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 company’s 50 day simple moving average is $17.46 and its 200-day simple moving average is $20.31.

Institutional Trading of WPP

Several institutional investors and hedge funds have recently modified their holdings of WPP. GAMMA Investing LLC raised its stake in shares of WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of WPP during the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its stake in shares of WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 1,111 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of WPP by 1,279.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 1,689 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of WPP by 184.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 1,225 shares in the last quarter. Institutional investors own 4.34% of the company’s stock.

WPP Company Profile

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.