Allspring Global Investments Holdings LLC Sells 282,804 Shares of Cushman & Wakefield PLC $CWK

Key Points

• Allspring Global Investments has reduced its stake in Cushman & Wakefield PLC by 48.4%, selling 282,804 shares during the second quarter to hold 301,549 shares valued at approximately $3.4 million.
• Several institutional investors increased their holdings in Cushman & Wakefield, with Vaughan Nelson Investment Management boosting its stake by 46.2% during the same quarter.
• Cushman & Wakefield's stock has a 12-month high of $17.04 and fell short of revenue expectations, reporting $1.65 billion against a consensus estimate of $2.38 billion.

Allspring Global Investments Holdings LLC cut its holdings in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 48.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 301,549 shares of the company's stock after selling 282,804 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.13% of Cushman & Wakefield worth $3,435,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CWK. Vaughan Nelson Investment Management L.P. increased its stake in shares of Cushman & Wakefield by 46.2% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 12,156,514 shares of the company's stock valued at $134,573,000 after acquiring an additional 3,842,859 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cushman & Wakefield by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,064,891 shares of the company's stock valued at $123,300,000 after acquiring an additional 478,484 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Cushman & Wakefield by 2.1% in the 1st quarter. Victory Capital Management Inc. now owns 9,380,276 shares of the company's stock valued at $95,866,000 after acquiring an additional 194,970 shares during the last quarter. Channing Capital Management LLC increased its stake in shares of Cushman & Wakefield by 13.8% in the 1st quarter. Channing Capital Management LLC now owns 5,369,263 shares of the company's stock valued at $54,874,000 after acquiring an additional 649,705 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Cushman & Wakefield by 1.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,022,204 shares of the company's stock valued at $41,107,000 after acquiring an additional 70,899 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Angela Sun sold 6,800 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $16.02, for a total transaction of $108,936.00. Following the sale, the director owned 46,498 shares in the company, valued at $744,897.96. This represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Cushman & Wakefield Trading Up 2.4%

NYSE:CWK opened at $16.14 on Tuesday. Cushman & Wakefield PLC has a twelve month low of $7.64 and a twelve month high of $17.04. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.48. The business has a 50 day moving average price of $15.72 and a two-hundred day moving average price of $12.31. The company has a market cap of $3.74 billion, a P/E ratio of 18.34 and a beta of 1.51.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Cushman & Wakefield had a return on equity of 14.33% and a net margin of 2.11%.The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm posted $0.20 EPS. The business's revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that Cushman & Wakefield PLC will post 1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CWK. The Goldman Sachs Group raised Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price target for the company in a research note on Friday, August 8th. JMP Securities boosted their price objective on Cushman & Wakefield from $15.00 to $16.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cushman & Wakefield from $13.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday, August 26th. Wall Street Zen upgraded Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Cushman & Wakefield in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Cushman & Wakefield currently has a consensus rating of "Moderate Buy" and an average price target of $15.75.

About Cushman & Wakefield

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.

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