WPP (NYSE:WPP) Shares Down 7.9% – Time to Sell?

Wpp Plc (NYSE:WPP) shares were down 7.9% during trading on Monday . The stock traded as low as $17.15 and last traded at $17.1230. Approximately 219,300 shares changed hands during trading, a decline of 63% from the average daily volume of 598,426 shares. The stock had previously closed at $18.60.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research note on Wednesday, January 21st. Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They issued a “neutral” rating on the stock. Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded WPP from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

WPP Stock Down 8.0%

The business has a 50 day simple moving average of $20.65 and a 200-day simple moving average of $22.21.

Institutional Investors Weigh In On WPP

Several large investors have recently made changes to their positions in the stock. OLD Mission Capital LLC acquired a new position in WPP in the 4th quarter worth $2,123,000. Balyasny Asset Management L.P. boosted its position in shares of WPP by 1,082.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after buying an additional 232,878 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of WPP during the fourth quarter worth about $726,000. Cetera Investment Advisers lifted its stake in WPP by 22.7% in the 4th quarter. Cetera Investment Advisers now owns 15,247 shares of the business services provider’s stock valued at $342,000 after acquiring an additional 2,818 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in WPP by 3,840.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after acquiring an additional 132,680 shares during 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.