WPP (NYSE:WPP) Shares Gap Up – Should You Buy?

Wpp Plc (NYSE:WPP)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $17.46, but opened at $18.49. WPP shares last traded at $18.9010, with a volume of 105,271 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on WPP shares. Wall Street Zen upgraded shares of WPP from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Citigroup restated a “neutral” rating on shares of WPP in a research note on Thursday, April 30th. The Goldman Sachs Group started coverage on shares of WPP in a research note on Wednesday, June 3rd. They set a “sell” rating on the stock. Rothschild & Co Redburn started coverage on shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating on the stock. Finally, Berenberg Bank began coverage on shares of WPP in a research note on Tuesday. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

WPP Trading Up 5.8%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.48. The firm’s 50-day moving average price is $17.69 and its 200-day moving average price is $18.99.

Institutional Investors Weigh In On WPP

Several institutional investors and hedge funds have recently modified their holdings of WPP. GAMMA Investing LLC raised its position in shares of WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock valued at $28,000 after buying an additional 814 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of WPP during the third quarter valued at approximately $28,000. SBI Securities Co. Ltd. raised its position in shares of WPP by 323.9% during the third quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock valued at $36,000 after buying an additional 1,111 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of WPP by 1,279.5% during the fourth 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 last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of WPP by 184.5% during the fourth 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 during the last quarter. Institutional investors 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.