Next Century Growth Investors LLC Sells 580,412 Shares of Cushman & Wakefield PLC $CWK

Key Points

• Next Century Growth Investors LLC reduced its stake in Cushman & Wakefield PLC by 45.8%, selling 580,412 shares and maintaining approximately 0.30% ownership worth $7,023,000.
• Several analysts have upgraded their ratings on Cushman & Wakefield, with JPMorgan Chase increasing the target price from $13.00 to $20.00 and Goldman Sachs moving from a "sell" to a "buy" rating.
• Cushman & Wakefield reported earnings of $0.30 per share for the quarter, exceeding analysts' expectations, while revenue was down compared to the previous year's quarter.

Next Century Growth Investors LLC trimmed its position in Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 45.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 687,195 shares of the company's stock after selling 580,412 shares during the period. Next Century Growth Investors LLC owned approximately 0.30% of Cushman & Wakefield worth $7,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Insight Partners LLC bought a new stake in Cushman & Wakefield during the first quarter worth about $175,000. Jane Street Group LLC raised its holdings in Cushman & Wakefield by 101.8% during the fourth quarter. Jane Street Group LLC now owns 14,542 shares of the company's stock worth $190,000 after acquiring an additional 837,554 shares in the last quarter. First Trust Advisors LP bought a new stake in Cushman & Wakefield during the fourth quarter worth about $197,000. Entropy Technologies LP bought a new stake in Cushman & Wakefield during the first quarter worth about $242,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Cushman & Wakefield during the fourth quarter worth about $262,000. Institutional investors own 95.56% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on CWK shares. Morgan Stanley set a $14.50 price objective on Cushman & Wakefield and gave the company an "overweight" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. upped their target price on Cushman & Wakefield from $13.00 to $20.00 and gave the company a "neutral" rating in a research report on Tuesday. The Goldman Sachs Group raised Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 target price on the stock in a research report on Friday, August 8th. JMP Securities upped their target price 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. Finally, Wall Street Zen raised Cushman & Wakefield from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $15.13.

Cushman & Wakefield Trading Up 0.7%

Shares of NYSE:CWK opened at $15.96 on Thursday. The business's 50 day simple moving average is $12.58 and its 200 day simple moving average is $11.11. The company has a market capitalization of $3.69 billion, a P/E ratio of 18.13 and a beta of 1.50. Cushman & Wakefield PLC has a 1 year low of $7.64 and a 1 year high of $16.22. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.13 and a quick ratio of 1.13.

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

Cushman & Wakefield 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.

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