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

Wpp Plc (NYSE:WPP)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $18.66, but opened at $19.53. WPP shares last traded at $19.3740, with a volume of 90,107 shares trading hands.

Wall Street Analysts Forecast Growth

WPP has been the topic of a number of research reports. Berenberg Bank began coverage on WPP in a report on Tuesday, June 9th. They issued a “buy” rating on the stock. Rothschild & Co Redburn began coverage on shares of WPP in a research note on Thursday, May 28th. They set a “buy” rating on the stock. Citigroup restated a “neutral” rating on shares of WPP in a report on Thursday, April 30th. Weiss Ratings reissued a “sell (d)” rating on shares of WPP in a research note on Tuesday, June 16th. Finally, The Goldman Sachs Group assumed coverage on shares of WPP in a research report on Wednesday, June 3rd. They set a “sell” rating for the company. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold”.

WPP Trading Down 2.3%

The stock has a 50-day simple moving average of $17.96 and a 200-day simple moving average of $18.39. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.89 and a quick ratio of 0.89.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of WPP by 385.3% in the 4th quarter. Bank of Montreal Can now owns 451,182 shares of the business services provider’s stock worth $10,134,000 after buying an additional 358,218 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of WPP by 1,082.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 254,389 shares of the business services provider’s stock worth $5,714,000 after purchasing an additional 232,878 shares in the last quarter. ABC Arbitrage SA acquired a new position in WPP during the 4th quarter valued at about $5,199,000. Tower Research Capital LLC TRC raised its holdings in WPP by 3,840.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 136,135 shares of the business services provider’s stock worth $3,058,000 after purchasing an additional 132,680 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of WPP in the first quarter valued at $1,619,000. Institutional investors own 4.34% of the company’s stock.

WPP Company Profile

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.