Lord Abbett & CO. LLC Grows Stock Position in Cushman & Wakefield PLC $CWK

Key Points

• Lord Abbett & CO. LLC increased its stake in Cushman & Wakefield PLC by 28.9%, acquiring an additional 177,424 shares during the first quarter, bringing their total ownership to approximately 0.34% valued at $8,087,000.
• A significant number of hedge funds are modifying their holdings, with Deutsche Bank AG increasing its position by 807.1%, now owning 1,870,044 shares worth $19,112,000.
• Analysts have shown positive sentiment towards Cushman & Wakefield, with upgrades to "strong-buy" from firms like Wall Street Zen and a price target increase from Goldman Sachs to $17.50.

Lord Abbett & CO. LLC boosted its position in shares of Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 28.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 791,249 shares of the company's stock after buying an additional 177,424 shares during the period. Lord Abbett & CO. LLC owned approximately 0.34% of Cushman & Wakefield worth $8,087,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its stake in shares of Cushman & Wakefield by 820.3% in the 4th quarter. Sterling Capital Management LLC now owns 7,215 shares of the company's stock valued at $94,000 after purchasing an additional 6,431 shares in the last quarter. RiverPark Advisors LLC acquired a new stake in shares of Cushman & Wakefield in the 4th quarter valued at approximately $150,000. Capital Insight Partners LLC acquired a new stake in shares of Cushman & Wakefield in the 1st quarter valued at approximately $175,000. Jane Street Group LLC boosted its stake in shares of Cushman & Wakefield by 101.8% in the 4th quarter. Jane Street Group LLC now owns 14,542 shares of the company's stock valued at $190,000 after purchasing an additional 837,554 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of Cushman & Wakefield in the 4th quarter valued at approximately $197,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CWK has been the subject of a number of research reports. The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price objective for the company in a report 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 note on Wednesday, August 6th. UBS Group boosted their price objective on Cushman & Wakefield from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. 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 report on Monday, July 21st. They set a "strong-buy" rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Cushman & Wakefield currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.38.

Cushman & Wakefield Price Performance

CWK traded up $0.1560 on Thursday, hitting $15.0360. 563,395 shares of the company's stock traded hands, compared to its average volume of 2,081,626. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 17.10 and a beta of 1.50. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.48. The company's 50 day simple moving average is $12.06 and its 200-day simple moving average is $11.03. Cushman & Wakefield PLC has a one year low of $7.64 and a one year high of $16.11.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last announced its earnings results 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 firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same quarter in the previous year, the business earned $0.20 EPS. The company's quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Cushman & Wakefield PLC will post 1.2 EPS for the current year.

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.