WPP plc (NYSE:WPP - Get Free Report)'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 trading hands.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of WPP from a "buy" rating to a "hold" rating in a research note on Monday, November 18th.
Check Out Our Latest Report on WPP
WPP Stock Performance
The company has a market cap of $10.59 billion, a PE ratio of 8.35, a PEG ratio of 8.03 and a beta of 1.27. The company has a 50 day simple moving average of $53.40 and a two-hundred day simple moving average of $50.06.
Institutional Investors Weigh In On WPP
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WPP. Hotchkis & Wiley Capital Management LLC increased its stake in shares of 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 acquiring an additional 1,734,750 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of WPP during the 3rd quarter worth about $35,757,000. Bank of Montreal Can lifted its holdings in shares of WPP by 72.0% during the 2nd quarter. Bank of Montreal Can now owns 191,401 shares of the business services provider's stock valued at $9,247,000 after buying an additional 80,102 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of WPP by 24.5% in 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 buying an additional 63,363 shares in the last quarter. Finally, Brandes Investment Partners LP increased its holdings in WPP by 7.0% in the second quarter. Brandes Investment Partners LP now owns 652,269 shares of the business services provider's stock worth $30,232,000 after buying an additional 42,690 shares during the last quarter. Hedge funds and other institutional investors own 4.34% of the company's stock.
WPP Company Profile
(
Get Free Report)
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.
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