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

Wpp Plc (NYSE:WPP) shares gapped down before the market opened on Monday . The stock had previously closed at $27.55, but opened at $26.46. WPP shares last traded at $25.8380, with a volume of 161,958 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WPP shares. Weiss Ratings reiterated a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. The Goldman Sachs Group assumed coverage on WPP in a research note on Wednesday, June 3rd. They set a “sell” rating for the company. Citigroup reaffirmed a “neutral” rating on shares of WPP in a report on Monday. Rothschild & Co Redburn began coverage on shares of WPP in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. Finally, Berenberg Bank began coverage on shares of WPP in a research report on Tuesday, June 9th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

WPP Price Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 0.87 and a quick ratio of 0.89. The company has a 50-day simple moving average of $19.02 and a 200-day simple moving average of $18.26.

WPP Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a dividend of $0.5052 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a dividend yield of 390.0%.

Institutional Trading of WPP

A number of institutional investors have recently added to or reduced their stakes in WPP. Jane Street Group LLC lifted its position in shares of WPP by 49.0% during the 1st quarter. Jane Street Group LLC now owns 66,463 shares of the business services provider’s stock valued at $2,523,000 after acquiring an additional 21,866 shares during the period. Cetera Investment Advisers increased its stake in WPP by 9.2% in the 2nd quarter. Cetera Investment Advisers now owns 7,766 shares of the business services provider’s stock valued at $272,000 after purchasing an additional 654 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in WPP by 58.3% during the second quarter. JPMorgan Chase & Co. now owns 6,397 shares of the business services provider’s stock worth $224,000 after purchasing an additional 2,355 shares during the last quarter. Russell Investments Group Ltd. boosted its position in WPP by 99.4% during the second quarter. Russell Investments Group Ltd. now owns 2,353 shares of the business services provider’s stock worth $82,000 after purchasing an additional 1,173 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of WPP in the second quarter valued at $407,000. Hedge funds and other institutional investors own 4.34% of the company’s stock.

About WPP

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.