Convergence Investment Partners LLC Invests $470,000 in Cushman & Wakefield PLC $CWK

Convergence Investment Partners LLC acquired a new position in shares of Cushman & Wakefield PLC (NYSE:CWK) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 42,501 shares of the company’s stock, valued at approximately $470,000.

Several other large investors have also modified their holdings of CWK. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Cushman & Wakefield by 46.2% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 12,156,514 shares of the company’s stock worth $134,573,000 after acquiring an additional 3,842,859 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Cushman & Wakefield by 807.1% during the 1st quarter. Deutsche Bank AG now owns 1,870,044 shares of the company’s stock worth $19,112,000 after acquiring an additional 1,663,880 shares in the last quarter. Nuveen LLC bought a new stake in shares of Cushman & Wakefield during the 1st quarter worth $11,086,000. Channing Capital Management LLC boosted its stake in shares of Cushman & Wakefield by 13.8% during the 1st quarter. Channing Capital Management LLC now owns 5,369,263 shares of the company’s stock worth $54,874,000 after acquiring an additional 649,705 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Cushman & Wakefield by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,064,891 shares of the company’s stock worth $123,300,000 after acquiring an additional 478,484 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Cushman & Wakefield Trading Down 0.3%

NYSE:CWK opened at $17.04 on Tuesday. 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 company has a market capitalization of $3.94 billion, a P/E ratio of 19.36 and a beta of 1.51. Cushman & Wakefield PLC has a 52 week low of $7.64 and a 52 week high of $17.33. The stock’s 50 day moving average price is $15.92 and its 200 day moving average price is $12.60.

Cushman & Wakefield (NYSE:CWK) last announced its quarterly 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. Cushman & Wakefield had a net margin of 2.11% and a return on equity of 14.33%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business posted $0.20 EPS. Cushman & Wakefield’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts forecast that Cushman & Wakefield PLC will post 1.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CWK has been the subject of several research reports. The Goldman Sachs Group raised Cushman & Wakefield from a “sell” rating to a “buy” rating and set a $17.50 price objective for the company in a research note on Friday, August 8th. Wall Street Zen raised Cushman & Wakefield from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Cushman & Wakefield in a research note on Wednesday, October 8th. Citizens Jmp started coverage on Cushman & Wakefield in a research note on Monday, July 21st. They issued a “strong-buy” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on Cushman & Wakefield from $13.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.75.

Insider Activity

In other news, Director Angela Sun sold 6,800 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $16.02, for a total transaction of $108,936.00. Following the transaction, the director owned 46,498 shares of the company’s stock, valued at approximately $744,897.96. This represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

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.