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

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WPP. Citigroup assumed coverage on shares of WPP in a report on Monday, January 12th. They set a “neutral” rating for the company. Wall Street Zen lowered shares of WPP from a “hold” rating to a “sell” rating in a research report on Sunday, February 8th. Zacks Research upgraded shares of WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Barclays raised WPP from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold”.

WPP Stock Up 5.2%

The business’s fifty day simple moving average is $20.43 and its two-hundred day simple moving average is $22.09.

Hedge Funds Weigh In On WPP

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of WPP by 185.0% during the 4th quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after purchasing an additional 814 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in WPP in the third quarter worth $28,000. SBI Securities Co. Ltd. boosted its stake in WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after buying an additional 1,111 shares in the last quarter. Global Retirement Partners LLC increased its holdings in WPP by 1,279.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,821 shares of the business services provider’s stock valued at $41,000 after buying an additional 1,689 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of WPP by 184.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,889 shares of the business services provider’s stock valued at $42,000 after buying an additional 1,225 shares in the last quarter. Institutional investors and hedge funds 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.