WPP (NYSE:WPP) Shares Down 7.9% – Should You Sell?

Wpp Plc (NYSE:WPP) shares 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 traded hands during trading, a decline of 63% from the average daily volume of 598,426 shares. The stock had previously closed at $18.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research upgraded WPP from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WPP in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a report on Sunday, February 8th. Citigroup initiated coverage on shares of WPP in a research note on Monday, January 12th. They issued a “neutral” rating for the company. Finally, Barclays upgraded shares of WPP from an “underweight” rating to an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, WPP currently has a consensus rating of “Hold”.

WPP Stock Down 8.0%

The stock’s 50 day moving average is $20.65 and its 200 day moving average is $22.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WPP. Caitong International Asset Management Co. Ltd bought a new position in WPP during the 3rd quarter worth $28,000. GAMMA Investing LLC increased its position in WPP by 185.0% during the fourth quarter. GAMMA Investing LLC now owns 1,254 shares of the business services provider’s stock worth $28,000 after acquiring an additional 814 shares during the period. Osaic Holdings Inc. raised its stake in WPP by 105.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,395 shares of the business services provider’s stock worth $49,000 after purchasing an additional 717 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in WPP by 323.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,454 shares of the business services provider’s stock worth $36,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Traub Capital Management LLC bought a new stake in WPP in the 2nd quarter valued at about $52,000. 4.34% of the stock is owned by institutional investors and hedge funds.

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.