WPP (NYSE:WPP) Shares Gap Up – Time to Buy?

Wpp Plc (NYSE:WPP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $19.86, but opened at $20.80. WPP shares last traded at $21.1150, with a volume of 142,953 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on WPP shares. Weiss Ratings reissued a “sell (d+)” rating on shares of WPP in a research report on Wednesday, October 8th. Zacks Research lowered shares of WPP from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of WPP from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

WPP Stock Up 6.2%

The stock has a fifty day moving average of $21.33 and a 200-day moving average of $27.20.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC grew its position in shares of WPP by 0.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,186,191 shares of the business services provider’s stock worth $255,164,000 after acquiring an additional 47,289 shares during the last quarter. Mondrian Investment Partners LTD acquired a new position in WPP in the 3rd quarter valued at $79,947,000. Invesco Ltd. raised its position in WPP by 50.8% during the 1st quarter. Invesco Ltd. now owns 2,448,296 shares of the business services provider’s stock worth $92,937,000 after buying an additional 824,336 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of WPP by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 861,579 shares of the business services provider’s stock worth $21,555,000 after acquiring an additional 94,162 shares during the period. Finally, Brandes Investment Partners LP increased its stake in shares of WPP by 12.2% during the second quarter. Brandes Investment Partners LP now owns 626,371 shares of the business services provider’s stock worth $21,930,000 after acquiring an additional 68,271 shares during the period. Hedge funds and other institutional investors own 4.34% of the company’s stock.

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.