WPP (NYSE:WPP) Shares Gap Down – Should You Sell?

WPP plc (NYSE:WPP)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $50.40, but opened at $49.11. WPP shares last traded at $48.88, with a volume of 27,498 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

WPP Stock Down 2.2 %

The firm has a 50 day moving average price of $53.40 and a 200 day moving average price of $50.06. The stock has a market cap of $10.63 billion, a P/E ratio of 8.38, a P/E/G ratio of 8.03 and a beta of 1.27.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WPP. GAMMA Investing LLC raised its stake in WPP by 45.3% during the 3rd quarter. GAMMA Investing LLC now owns 648 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 202 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in WPP during the 3rd quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC raised its stake in WPP by 239.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,756 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 1,943 shares during the period. Blue Trust Inc. raised its stake in WPP by 378.4% during the 3rd quarter. Blue Trust Inc. now owns 3,526 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 2,789 shares during the period. Finally, Apollon Wealth Management LLC bought a new stake in WPP during the 3rd quarter valued at approximately $203,000. Institutional investors own 4.34% of the company’s stock.

About WPP

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.