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

Wpp Plc (NYSE:WPP)’s share price gapped up prior to trading on Monday . The stock had previously closed at $18.95, but opened at $20.69. WPP shares last traded at $20.9960, with a volume of 603,337 shares changing hands.

Analysts Set New Price Targets

Several research firms recently weighed in on WPP. Kepler Capital Markets lowered shares of WPP from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. Zacks Research cut WPP from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Barclays reaffirmed an “underweight” rating on shares of WPP in a report on Friday, August 8th. Finally, Wall Street Zen lowered WPP from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, WPP has a consensus rating of “Reduce”.

WPP Price Performance

The business’s 50 day moving average is $23.21 and its 200-day moving average is $29.44.

Institutional Trading of WPP

Several large investors have recently bought and sold shares of the business. Legacy Wealth Asset Management LLC grew its position in WPP by 4.1% in the second quarter. Legacy Wealth Asset Management LLC now owns 10,660 shares of the business services provider’s stock valued at $373,000 after acquiring an additional 420 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of WPP by 8.0% in the 1st quarter. Vident Advisory LLC now owns 6,194 shares of the business services provider’s stock valued at $235,000 after purchasing an additional 459 shares in the last quarter. Assetmark Inc. grew its holdings in shares of WPP by 88.3% during the 1st quarter. Assetmark Inc. now owns 996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 467 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of WPP by 1.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 41,521 shares of the business services provider’s stock valued at $1,454,000 after purchasing an additional 553 shares during the last quarter. Finally, Blue Trust Inc. increased its position in WPP by 41.9% during the 2nd quarter. Blue Trust Inc. now owns 1,990 shares of the business services provider’s stock worth $70,000 after purchasing an additional 588 shares in the last quarter. 4.34% of the stock is owned by institutional investors and hedge funds.

WPP Company Profile

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.