Connor Clark & Lunn Investment Management Ltd. Has $6.55 Million Position in Cushman & Wakefield PLC (NYSE:CWK)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its position in Cushman & Wakefield PLC by 23.3%, now holding 641,094 shares valued at approximately $6.55 million.
• Several large investors, including Sterling Capital Management LLC, have significantly increased their stakes in Cushman & Wakefield, with 95.56% of the stock currently owned by institutional investors and hedge funds.
• Cushman & Wakefield reported an EPS of $0.30 for its most recent quarter, exceeding estimates and reflecting a 7.2% year-over-year revenue increase.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 641,094 shares of the company's stock after selling 195,094 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.28% of Cushman & Wakefield worth $6,552,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Cushman & Wakefield by 2.6% during the first quarter. Principal Financial Group Inc. now owns 1,307,884 shares of the company's stock valued at $13,367,000 after purchasing an additional 32,795 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cushman & Wakefield by 2.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 584,353 shares of the company's stock valued at $5,972,000 after purchasing an additional 11,247 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Cushman & Wakefield during the first quarter valued at $333,000. Deutsche Bank AG lifted its holdings in shares of Cushman & Wakefield by 58.0% during the fourth quarter. Deutsche Bank AG now owns 206,164 shares of the company's stock valued at $2,697,000 after purchasing an additional 75,693 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Cushman & Wakefield during the first quarter valued at $450,000. Institutional investors own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

CWK has been the subject of several analyst reports. UBS Group upped their target price on Cushman & Wakefield from $9.00 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group raised Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price objective for the company in a research note on Friday, August 8th. JMP Securities increased their price objective on Cushman & Wakefield from $15.00 to $16.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Citizens Jmp assumed coverage on Cushman & Wakefield in a research note on Monday, July 21st. They issued a "strong-buy" rating and a $15.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Cushman & Wakefield presently has an average rating of "Moderate Buy" and a consensus target price of $14.38.

Cushman & Wakefield Stock Performance

CWK traded down $0.11 during midday trading on Friday, reaching $14.80. The company's stock had a trading volume of 2,189,975 shares, compared to its average volume of 2,572,211. The stock has a market cap of $3.43 billion, a P/E ratio of 16.82 and a beta of 1.50. The company has a fifty day simple moving average of $11.80 and a 200 day simple moving average of $10.98. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.48. Cushman & Wakefield PLC has a twelve month low of $7.64 and a twelve month high of $16.11.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.30 EPS 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 company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.20 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. Research analysts expect that Cushman & Wakefield PLC will post 1.2 earnings per share for the current year.

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.