Cushman & Wakefield (NYSE:CWK) Shares Up 7.9% – Still a Buy?

Cushman & Wakefield PLC (NYSE:CWK) was up 7.9% during mid-day trading on Wednesday . The stock traded as high as $13.73 and last traded at $13.8850. Approximately 196,126 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,971,833 shares. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

CWK has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $17.00 target price on Cushman & Wakefield and gave the stock a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen cut Cushman & Wakefield from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Finally, Weiss Ratings raised Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Cushman & Wakefield presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Cushman & Wakefield Stock Performance

The company has a market cap of $3.24 billion, a PE ratio of 43.25 and a beta of 1.44. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50-day simple moving average is $13.23 and its 200 day simple moving average is $13.95.

Cushman & Wakefield (NYSE:CWK) last issued its earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cushman & Wakefield PLC will post 1.45 EPS for the current year.

Insiders Place Their Bets

In other Cushman & Wakefield news, insider Nathaniel Robinson sold 24,828 shares of Cushman & Wakefield 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 sale, the insider owned 70,876 shares of the company’s stock, valued at approximately $939,107. The trade was a 25.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Institutional Trading of Cushman & Wakefield

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Cushman & Wakefield by 126.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company’s stock valued at $26,000 after buying an additional 1,321 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Cushman & Wakefield in the fourth quarter worth $32,000. Caitong International Asset Management Co. Ltd lifted its holdings in Cushman & Wakefield by 184.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company’s stock valued at $33,000 after acquiring an additional 1,318 shares during the period. Quarry LP lifted its holdings in Cushman & Wakefield by 4,473.5% in the third quarter. Quarry LP now owns 2,241 shares of the company’s stock valued at $36,000 after acquiring an additional 2,192 shares during the period. Finally, Covestor Ltd boosted its position in shares of Cushman & Wakefield by 4,217.7% during the 4th quarter. Covestor Ltd now owns 2,677 shares of the company’s stock worth $43,000 after purchasing an additional 2,615 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

About Cushman & Wakefield

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.