WPP (NYSE:WPP) Shares Gap Down to $46.80

WPP plc (NYSE:WPP)’s share price gapped down prior to trading on Friday . The stock had previously closed at $46.80, but opened at $45.71. WPP shares last traded at $45.84, with a volume of 10,349 shares.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a report on Monday, May 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.00.

WPP Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $50.53 and its two-hundred day simple moving average is $48.37.

Hedge Funds Weigh In On WPP

A number of institutional investors have recently modified their holdings of the business. Natixis Advisors L.P. increased its holdings in shares of WPP by 0.4% in the 3rd quarter. Natixis Advisors L.P. now owns 66,272 shares of the business services provider’s stock valued at $2,955,000 after acquiring an additional 268 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in shares of WPP by 3.0% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 9,259 shares of the business services provider’s stock valued at $440,000 after acquiring an additional 273 shares during the period. Truist Financial Corp increased its holdings in shares of WPP by 2.2% in the 4th quarter. Truist Financial Corp now owns 13,717 shares of the business services provider’s stock valued at $653,000 after acquiring an additional 292 shares during the period. Glenmede Trust Co. NA increased its holdings in shares of WPP by 0.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 55,701 shares of the business services provider’s stock valued at $2,483,000 after acquiring an additional 332 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of WPP by 8.6% in the 4th quarter. Quadrant Capital Group LLC now owns 5,443 shares of the business services provider’s stock valued at $259,000 after acquiring an additional 431 shares during the period. 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.