Cushman & Wakefield plc (NYSE:CWK) Sees Large Decrease in Short Interest

Cushman & Wakefield plc (NYSE:CWK) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 9,230,000 shares, a drop of 15.2% from the March 15th total of 10,890,000 shares. Approximately 4.1% of the company’s stock are short sold. Based on an average trading volume of 1,890,000 shares, the days-to-cover ratio is currently 4.9 days.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Cushman & Wakefield from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Citigroup reduced their price objective on shares of Cushman & Wakefield from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. UBS Group lowered their target price on Cushman & Wakefield from $14.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. The Goldman Sachs Group dropped their target price on Cushman & Wakefield from $13.00 to $11.50 and set a “sell” rating on the stock in a report on Wednesday, March 19th. Finally, Jefferies Financial Group downgraded Cushman & Wakefield from a “buy” rating to a “hold” rating and decreased their price target for the company from $18.00 to $14.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.75.

Cushman & Wakefield Stock Performance

CWK traded up $0.24 during trading hours on Tuesday, reaching $8.14. The company’s stock had a trading volume of 635,733 shares, compared to its average volume of 2,084,142. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.15. The company’s 50-day moving average is $10.45 and its 200-day moving average is $12.54. Cushman & Wakefield has a 52 week low of $7.54 and a 52 week high of $16.11. The firm has a market cap of $1.87 billion, a PE ratio of 14.81 and a beta of 1.26.

Cushman & Wakefield (NYSE:CWK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.67 billion. Cushman & Wakefield had a net margin of 1.39% and a return on equity of 12.62%. On average, equities analysts forecast that Cushman & Wakefield will post 1.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWK. Smartleaf Asset Management LLC grew its stake in shares of Cushman & Wakefield by 264.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,709 shares of the company’s stock valued at $48,000 after acquiring an additional 2,691 shares in the last quarter. Blue Trust Inc. grew its position in shares of Cushman & Wakefield by 26.5% during the 4th quarter. Blue Trust Inc. now owns 4,429 shares of the company’s stock worth $60,000 after purchasing an additional 928 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Cushman & Wakefield by 820.3% during the fourth quarter. Sterling Capital Management LLC now owns 7,215 shares of the company’s stock worth $94,000 after purchasing an additional 6,431 shares during the period. Ieq Capital LLC bought a new stake in shares of Cushman & Wakefield in the fourth quarter valued at approximately $135,000. Finally, Jones Financial Companies Lllp grew its position in Cushman & Wakefield by 143.9% during the fourth quarter. Jones Financial Companies Lllp now owns 11,188 shares of the company’s stock worth $146,000 after buying an additional 6,600 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

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.