Cushman & Wakefield (NYSE:CWK) Reaches New 1-Year Low - Here's What Happened

Key Points

• Cushman & Wakefield shares hit a new 52-week low, trading as low as $11.08 versus the prior close of $11.39, with the stock remaining below its 50-day and 200-day moving averages.
• Analyst sentiment remains moderately positive, with five Buy ratings and four Holds and an average price target of $17.57, although Barclays raised its target to $16 while UBS cut its target to $15.
• The company reported quarterly EPS of $0.35 on $2.76 billion in revenue, while insiders sold shares and institutional investors owned a substantial 95.56% of the stock.

Cushman & Wakefield PLC (NYSE:CWK - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday. The stock traded as low as $11.08 and last traded at $11.02, with a volume of 48,547 shares changing hands. The stock had previously closed at $11.39.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CWK shares. Barclays lifted their price target on shares of Cushman & Wakefield from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Cushman & Wakefield from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, UBS Group lowered their price objective on shares of Cushman & Wakefield from $17.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Cushman & Wakefield has an average rating of "Moderate Buy" and an average price target of $17.57.

Cushman & Wakefield Price Performance

The company has a market cap of $2.59 billion, a PE ratio of 38.07 and a beta of 1.50. The firm's 50-day moving average is $13.11 and its 200-day moving average is $13.26. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19.

Cushman & Wakefield (NYSE:CWK - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.35 earnings per share (EPS) for the quarter. Cushman & Wakefield had a net margin of 0.64% and a return on equity of 15.90%. The business had revenue of $2.76 billion during the quarter. On average, equities analysts anticipate that Cushman & Wakefield PLC will post 1.46 EPS for the current year.

Insider Activity

In other news, insider Laurida Sayed sold 16,000 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $13.88, for a total value of $222,080.00. Following the sale, the insider directly owned 5,461 shares in the company, valued at $75,798.68. The trade was a 74.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nathaniel Robinson sold 12,500 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $13.39, for a total transaction of $167,375.00. Following the completion of the transaction, the insider directly owned 58,376 shares of the company's stock, valued at approximately $781,654.64. The trade was a 17.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company's stock.

Institutional Investors Weigh In On Cushman & Wakefield

Several institutional investors have recently modified their holdings of CWK. Jennison Associates LLC purchased a new position in shares of Cushman & Wakefield during the first quarter worth $6,672,000. Renaissance Technologies LLC bought a new position in Cushman & Wakefield during the first quarter worth $6,101,000. Dimensional Fund Advisors LP increased its stake in shares of Cushman & Wakefield by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 13,248,848 shares of the company's stock valued at $162,424,000 after purchasing an additional 397,892 shares during the period. Bank of America Corp DE lifted its holdings in shares of Cushman & Wakefield by 13.2% during the first quarter. Bank of America Corp DE now owns 2,126,440 shares of the company's stock valued at $26,070,000 after purchasing an additional 247,475 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Cushman & Wakefield by 17.8% during the 1st quarter. Sei Investments Co. now owns 1,137,910 shares of the company's stock valued at $13,951,000 after buying an additional 171,956 shares during the period. 95.56% of the stock is owned by institutional investors.

About Cushman & Wakefield

Cushman & Wakefield plc NYSE: CWK is a global commercial real estate services company that advises property owners, occupiers, investors and developers. Its services cover office, industrial, retail, hospitality, multifamily and other commercial property sectors.

The company provides leasing and tenant representation, capital markets and investment sales, valuation and advisory services, property and facilities management, project and development services, and consulting. Cushman & Wakefield also supports businesses with workplace strategy, portfolio planning and other real estate-related services.

The company traces its origins to 1917, when Cushman & Wakefield was established in New York.

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