Rhumbline Advisers Sells 31,275 Shares of Cushman & Wakefield PLC $CWK

Key Points

• Rhumbline Advisers sold 31,275 shares of Cushman & Wakefield PLC, reducing its holdings by 4.4% and retaining 683,355 shares valued at approximately $6.98 million.
• Several hedge funds heavily increased their positions in Cushman & Wakefield during the fourth quarter, indicating strong institutional interest in the stock.
• Wall Street analysts have shown a positive outlook, with ratings upgraded to "strong-buy" by various firms and a consensus target price for the stock now at $15.13.

Rhumbline Advisers trimmed its stake in shares of Cushman & Wakefield PLC (NYSE:CWK - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 683,355 shares of the company's stock after selling 31,275 shares during the period. Rhumbline Advisers owned about 0.30% of Cushman & Wakefield worth $6,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Deutsche Bank AG increased its stake in Cushman & Wakefield by 807.1% in the 1st quarter. Deutsche Bank AG now owns 1,870,044 shares of the company's stock valued at $19,112,000 after buying an additional 1,663,880 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cushman & Wakefield by 54.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,067,526 shares of the company's stock valued at $40,123,000 after buying an additional 1,084,940 shares during the last quarter. Nuveen LLC acquired a new stake in Cushman & Wakefield in the 1st quarter valued at $11,086,000. Jane Street Group LLC increased its stake in 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 buying an additional 837,554 shares during the last quarter. Finally, Channing Capital Management LLC increased its stake in Cushman & Wakefield by 13.8% in the 1st quarter. Channing Capital Management LLC now owns 5,369,263 shares of the company's stock valued at $54,874,000 after buying an additional 649,705 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cushman & Wakefield Stock Performance

Shares of CWK stock traded up $0.19 during midday trading on Wednesday, hitting $16.79. 859,557 shares of the company were exchanged, compared to its average volume of 2,078,071. The firm has a market capitalization of $3.89 billion, a P/E ratio of 19.06 and a beta of 1.53. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.13 and a current ratio of 1.13. The firm's 50 day moving average price is $13.95 and its two-hundred day moving average price is $11.44. Cushman & Wakefield PLC has a 52 week low of $7.64 and a 52 week high of $16.99.

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 the consensus estimate of $0.22 by $0.08. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $2.38 billion. Cushman & Wakefield had a net margin of 2.11% and a return on equity of 14.33%. Cushman & Wakefield's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, equities research analysts anticipate that Cushman & Wakefield PLC will post 1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CWK shares. Citizens Jmp started coverage on shares of Cushman & Wakefield in a research note on Monday, July 21st. They issued a "strong-buy" rating and a $15.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Cushman & Wakefield from $13.00 to $20.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. The Goldman Sachs Group upgraded shares of Cushman & Wakefield from a "sell" rating to a "buy" rating and set a $17.50 price target on the stock in a research note on Friday, August 8th. UBS Group lifted their price objective on shares of Cushman & Wakefield from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley set a $14.50 price objective on shares of Cushman & Wakefield and gave the company an "overweight" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.13.

Insider Transactions at Cushman & Wakefield

In other Cushman & Wakefield news, Director Angela Sun sold 6,800 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $16.02, for a total value of $108,936.00. Following the completion of the sale, the director owned 46,498 shares of the company's stock, valued at $744,897.96. The trade was a 12.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.