WPP (NYSE:WPP) Shares Gap Down – Here’s What Happened

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 Analyst Weigh In

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

WPP Stock Down 1.5 %

The company has a market capitalization of $9.91 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 8.03 and a beta of 1.27. The stock’s fifty day moving average price is $53.15 and its two-hundred day moving average price is $50.06.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WPP. Hotchkis & Wiley Capital Management LLC grew its stake in WPP by 47.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,356,064 shares of the business services provider’s stock worth $274,016,000 after purchasing an additional 1,734,750 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of WPP in the 3rd quarter worth about $35,757,000. Brandes Investment Partners LP increased its stake in shares of WPP by 7.0% in the 2nd quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider’s stock worth $30,232,000 after acquiring an additional 42,690 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in WPP by 24.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 321,973 shares of the business services provider’s stock valued at $14,759,000 after acquiring an additional 63,363 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in WPP by 15.9% during the second quarter. Envestnet Asset Management Inc. now owns 199,110 shares of the business services provider’s stock worth $9,115,000 after acquiring an additional 27,384 shares in the last quarter. 4.34% of the stock is currently owned by institutional investors.

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.