WPP (LON:WPP) Shares Down 15.6% – Here’s What Happened

WPP plc (LON:WPP)’s stock price fell 15.6% during trading on Thursday . The company traded as low as GBX 616.60 ($7.82) and last traded at GBX 650.31 ($8.25). 44,099,922 shares changed hands during mid-day trading, an increase of 1,200% from the average session volume of 3,391,764 shares. The stock had previously closed at GBX 770.20 ($9.77).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price target on WPP from GBX 1,040 ($13.19) to GBX 960 ($12.18) and set a “neutral” rating for the company in a research report on Tuesday, January 7th.

WPP Stock Performance

The company has a debt-to-equity ratio of 215.67, a current ratio of 0.89 and a quick ratio of 0.89. The business has a 50-day moving average of GBX 775.33 and a 200-day moving average of GBX 783.46. The company has a market capitalization of £7.05 billion, a P/E ratio of 34.55, a P/E/G ratio of 13.47 and a beta of 1.13.

Insider Activity

In other WPP news, insider Joanne Wilson sold 8,794 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of GBX 860 ($10.91), for a total transaction of £75,628.40 ($95,914.27). Insiders own 0.22% of the company’s stock.

About WPP

WPP is the creative transformation company, using the power of creativity to build better futures for our people, planet, clients and communities.

At WPP we’re reinventing creativity on an ever-broader canvas, bringing together unrivalled talent, resources and skills to provide an integrated offer of communications, experience, commerce and technology for clients.