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

WPP plc (NYSE:WPP) shares gapped down before the market opened on Thursday . The stock had previously closed at $48.55, but opened at $40.86. WPP shares last traded at $40.93, with a volume of 131,915 shares trading hands.

Wall Street Analysts Forecast Growth

WPP has been the subject of a number of recent research reports. Barclays cut shares of WPP from an “overweight” rating to an “equal weight” rating in a research report on Friday. Kepler Capital Markets raised shares of WPP from a “hold” rating to a “buy” rating in a research report on Friday, January 24th. Finally, StockNews.com cut shares of WPP from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

WPP Stock Performance

The company has a market capitalization of $8.75 billion, a PE ratio of 6.79, a PEG ratio of 7.06 and a beta of 1.25. The business’s 50-day moving average is $47.69 and its 200-day moving average is $49.98.

WPP Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, July 4th. Shareholders of record on Friday, June 6th will be issued a $0.9728 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from WPP’s previous semi-annual dividend of $0.95. This represents a yield of 6.2%. WPP’s payout ratio is 32.50%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of WPP during the third quarter valued at approximately $1,479,000. Sanctuary Advisors LLC raised its holdings in shares of WPP by 45.7% during the third quarter. Sanctuary Advisors LLC now owns 6,397 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 2,007 shares during the last quarter. GAMMA Investing LLC grew its position in WPP by 92.4% during the fourth quarter. GAMMA Investing LLC now owns 1,247 shares of the business services provider’s stock valued at $64,000 after buying an additional 599 shares during the period. HighTower Advisors LLC grew its position in WPP by 22.5% during the third quarter. HighTower Advisors LLC now owns 19,658 shares of the business services provider’s stock valued at $1,001,000 after buying an additional 3,615 shares during the period. Finally, Stifel Financial Corp grew its position in WPP by 67.6% during the third quarter. Stifel Financial Corp now owns 55,963 shares of the business services provider’s stock valued at $2,863,000 after buying an additional 22,578 shares during the period. 4.34% of the stock is owned by hedge funds and other institutional investors.

About WPP

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.