Cushman & Wakefield PLC $CWK Stock Position Lowered by Highland Peak Capital LLC

Key Points

• Highland Peak cut its stake in Cushman & Wakefield by 21.7% in Q3, selling 213,860 shares and ending the quarter with 773,391 shares (about 0.33% of CWK) valued at roughly $12.3 million.
• Cushman & Wakefield beat expectations for the quarter with $0.54 EPS versus $0.53 estimated and revenue of $2.91 billion, up 10.8% year-over-year.
• Institutional investors own about 95.56% of the stock; analysts rate CWK a consensus "Moderate Buy" with an average target of $18.56 while the shares trade near $13.40.

Highland Peak Capital LLC cut its stake in shares of Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 21.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 773,391 shares of the company's stock after selling 213,860 shares during the quarter. Cushman & Wakefield accounts for about 4.0% of Highland Peak Capital LLC's investment portfolio, making the stock its 9th largest holding. Highland Peak Capital LLC owned approximately 0.33% of Cushman & Wakefield worth $12,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Cushman & Wakefield by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 12,740,993 shares of the company's stock valued at $202,838,000 after purchasing an additional 280,136 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in Cushman & Wakefield by 1,637.3% during the 3rd quarter. Picton Mahoney Asset Management now owns 386,513 shares of the company's stock valued at $6,153,000 after buying an additional 364,265 shares during the last quarter. Level Four Advisory Services LLC purchased a new stake in Cushman & Wakefield during the 3rd quarter valued at $617,000. Quantbot Technologies LP bought a new stake in Cushman & Wakefield in the 3rd quarter worth $1,349,000. Finally, Intech Investment Management LLC grew its holdings in Cushman & Wakefield by 26.9% in the 3rd quarter. Intech Investment Management LLC now owns 921,765 shares of the company's stock worth $14,674,000 after acquiring an additional 195,475 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cushman & Wakefield Stock Up 0.1%

Shares of NYSE:CWK opened at $13.40 on Thursday. The firm has a market capitalization of $3.11 billion, a P/E ratio of 35.26 and a beta of 1.49. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a 50 day moving average price of $15.41 and a 200-day moving average price of $15.71. Cushman & Wakefield PLC has a 52-week low of $7.64 and a 52-week high of $17.40.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.83 billion. Cushman & Wakefield had a return on equity of 15.02% and a net margin of 0.86%.The firm's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, equities research analysts anticipate that Cushman & Wakefield PLC will post 1.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on CWK. Wolfe Research raised shares of Cushman & Wakefield from a "peer perform" rating to an "outperform" rating and set a $19.00 price objective for the company in a research note on Monday, February 9th. Morgan Stanley reiterated an "overweight" rating and issued a $19.00 price objective on shares of Cushman & Wakefield in a report on Friday, January 16th. Wall Street Zen lowered Cushman & Wakefield from a "strong-buy" rating to a "buy" rating in a research report on Monday, February 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Cushman & Wakefield in a report on Wednesday, January 21st. Finally, Citigroup raised Cushman & Wakefield from a "neutral" rating to a "buy" rating and set a $18.00 price target for the company in a research note on Thursday, November 20th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.56.

Cushman & Wakefield Company Profile

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.

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