Cushman & Wakefield PLC $CWK Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its stake in shares of Cushman & Wakefield PLC (NYSE:CWK) by 26.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,175 shares of the company’s stock after selling 51,367 shares during the quarter. Ritholtz Wealth Management owned about 0.06% of Cushman & Wakefield worth $1,719,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new stake in shares of Cushman & Wakefield in the 3rd quarter worth $3,538,000. Lighthouse Investment Partners LLC acquired a new position in shares of Cushman & Wakefield during the third quarter worth about $7,558,000. Bessemer Group Inc. increased its stake in shares of Cushman & Wakefield by 62,083.6% during the fourth quarter. Bessemer Group Inc. now owns 871,814 shares of the company’s stock worth $14,115,000 after acquiring an additional 870,412 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Cushman & Wakefield by 27.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 649,886 shares of the company’s stock worth $10,294,000 after purchasing an additional 141,800 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Cushman & Wakefield during the third quarter worth about $1,349,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Cushman & Wakefield Trading Up 4.9%

Shares of CWK opened at $13.63 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average is $13.42 and its two-hundred day moving average is $14.14. Cushman & Wakefield PLC has a twelve month low of $10.94 and a twelve month high of $17.40. The firm has a market capitalization of $3.19 billion, a P/E ratio of 42.60 and a beta of 1.44.

Cushman & Wakefield (NYSE:CWK) last issued its earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts predict that Cushman & Wakefield PLC will post 1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CWK. Weiss Ratings raised Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Barclays reduced their price target on Cushman & Wakefield from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, March 13th. Wall Street Zen downgraded Cushman & Wakefield from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, The Goldman Sachs Group set a $17.00 price objective on Cushman & Wakefield and gave the stock a “buy” rating in a report on Friday, May 22nd. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insider Buying and Selling at Cushman & Wakefield

In related news, insider Nathaniel Robinson sold 24,828 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $13.25, for a total value of $328,971.00. Following the completion of the transaction, the insider directly owned 70,876 shares of the company’s stock, valued at $939,107. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.74% of the stock is currently owned by corporate insiders.

Cushman & Wakefield Company Profile

Cushman & Wakefield is a leading global commercial real estate services firm headquartered in Chicago. The company provides a wide range of services to occupiers and investors, specializing in transaction management, property management, facilities management and project management. Its clientele spans corporate occupiers, landlords, investors and government entities seeking solutions to optimize their real estate portfolios and operations.

The firm’s core offerings include leasing advisory for office, industrial, retail and multifamily properties, as well as capital markets advice on acquisitions, dispositions and debt and equity placements.