Envestnet Asset Management Inc. Trims Position in Cushman & Wakefield PLC (NYSE:CWK)

Key Points

• Envestnet Asset Management Inc. reduced its stake in Cushman & Wakefield PLC by 39.9%, selling 128,106 shares, which leaves it with 192,928 shares valued at approximately $1.97 million as of the latest SEC filing.
• Despite the share reduction by Envestnet, other institutional investors such as Yousif Capital Management LLC and CIBC Private Wealth Group LLC have increased their stakes in Cushman & Wakefield recently.
• Cushman & Wakefield reported a better-than-expected earnings per share (EPS) of $0.09 for the last quarter, surpassing the consensus estimate of $0.02, along with a revenue growth of 4.6% year-over-year.

Envestnet Asset Management Inc. reduced its holdings in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 39.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 192,928 shares of the company's stock after selling 128,106 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Cushman & Wakefield worth $1,972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in Cushman & Wakefield by 820.3% during the 4th quarter. Sterling Capital Management LLC now owns 7,215 shares of the company's stock valued at $94,000 after buying an additional 6,431 shares in the last quarter. RiverPark Advisors LLC bought a new position in shares of Cushman & Wakefield during the fourth quarter valued at approximately $150,000. Jane Street Group LLC grew its stake in Cushman & Wakefield by 101.8% in the fourth quarter. Jane Street Group LLC now owns 14,542 shares of the company's stock worth $190,000 after purchasing an additional 837,554 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Cushman & Wakefield during the 4th quarter valued at $197,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Cushman & Wakefield by 27.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 16,681 shares of the company's stock valued at $203,000 after acquiring an additional 3,567 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cushman & Wakefield Stock Down 2.3%

Shares of NYSE CWK traded down $0.28 during midday trading on Friday, reaching $11.91. The company's stock had a trading volume of 2,361,183 shares, compared to its average volume of 2,029,109. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 17.26 and a beta of 1.43. Cushman & Wakefield PLC has a fifty-two week low of $7.64 and a fifty-two week high of $16.11. The stock has a 50 day simple moving average of $10.94 and a 200-day simple moving average of $10.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.64.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.07. Cushman & Wakefield had a return on equity of 13.50% and a net margin of 1.70%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.26 billion. The company's revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict that Cushman & Wakefield PLC will post 1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

CWK has been the topic of a number of research reports. Wall Street Zen lowered shares of Cushman & Wakefield from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 20th. Morgan Stanley set a $14.50 price objective on shares of Cushman & Wakefield and gave the stock an "overweight" rating in a research report on Thursday, June 12th. UBS Group upped their target price on shares of Cushman & Wakefield from $9.00 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. dropped their price target on shares of Cushman & Wakefield from $17.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Finally, Citizens Jmp assumed coverage on shares of Cushman & Wakefield in a report on Monday, July 21st. They issued a "strong-buy" rating and a $15.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.50.

Cushman & Wakefield Company Profile

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.