Cushman & Wakefield (NYSE:CWK) Trading Up 7.9% – Here’s What Happened

Shares of Cushman & Wakefield PLC (NYSE:CWKGet Free Report) were up 7.9% during mid-day trading on Wednesday . The stock traded as high as $13.73 and last traded at $13.8850. Approximately 196,126 shares traded hands during trading, a decline of 90% from the average daily volume of 1,971,833 shares. The stock had previously closed at $12.87.

Analysts Set New Price Targets

A number of research firms recently commented on CWK. The Goldman Sachs Group set a $17.00 price target on shares of Cushman & Wakefield and gave the stock a “buy” rating in a report on Friday, May 22nd. Weiss Ratings raised Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Finally, Wall Street Zen downgraded Cushman & Wakefield from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Check Out Our Latest Report on Cushman & Wakefield

Cushman & Wakefield Price Performance

The stock has a market cap of $3.29 billion, a P/E ratio of 43.92 and a beta of 1.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.34. The business’s 50-day simple moving average is $13.22 and its two-hundred day simple moving average is $13.92.

Cushman & Wakefield (NYSE:CWKGet Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $1.54 billion. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Sell-side analysts expect that Cushman & Wakefield PLC will post 1.45 EPS for the current year.

Insiders Place Their Bets

In other Cushman & Wakefield news, insider Nathaniel Robinson sold 24,828 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $13.25, for a total transaction of $328,971.00. Following the sale, the insider owned 70,876 shares of the company’s stock, valued at $939,107. The trade was a 25.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.74% of the company’s stock.

Hedge Funds Weigh In On Cushman & Wakefield

A number of large investors have recently made changes to their positions in CWK. EverSource Wealth Advisors LLC raised its stake in shares of Cushman & Wakefield by 126.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company’s stock valued at $26,000 after purchasing an additional 1,321 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Cushman & Wakefield in the 4th quarter worth about $32,000. Caitong International Asset Management Co. Ltd boosted its stake in Cushman & Wakefield by 184.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company’s stock worth $33,000 after purchasing an additional 1,318 shares during the period. Quarry LP grew its holdings in Cushman & Wakefield by 4,473.5% during the 3rd quarter. Quarry LP now owns 2,241 shares of the company’s stock valued at $36,000 after buying an additional 2,192 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Cushman & Wakefield by 4,217.7% during the 4th quarter. Covestor Ltd now owns 2,677 shares of the company’s stock valued at $43,000 after buying an additional 2,615 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Cushman & Wakefield Company Profile

(Get Free Report)

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm’s core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.

See Also

Receive News & Ratings for Cushman & Wakefield Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cushman & Wakefield and related companies with MarketBeat.com's FREE daily email newsletter.