Picton Mahoney Asset Management Purchases 364,265 Shares of Cushman & Wakefield PLC $CWK

Picton Mahoney Asset Management lifted its position in Cushman & Wakefield PLC (NYSE:CWK) by 1,637.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 386,513 shares of the company’s stock after purchasing an additional 364,265 shares during the quarter. Picton Mahoney Asset Management’s holdings in Cushman & Wakefield were worth $6,153,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State Street Corp lifted its position in Cushman & Wakefield by 0.9% in the 2nd quarter. State Street Corp now owns 9,010,052 shares of the company’s stock worth $99,741,000 after buying an additional 79,473 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cushman & Wakefield by 1.1% during the second quarter. Geode Capital Management LLC now owns 5,925,513 shares of the company’s stock worth $65,603,000 after acquiring an additional 62,582 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Cushman & Wakefield in the 2nd quarter worth approximately $51,764,000. Channing Capital Management LLC purchased a new stake in shares of Cushman & Wakefield in the 3rd quarter valued at $55,665,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Cushman & Wakefield by 128.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,879,485 shares of the company’s stock valued at $31,876,000 after purchasing an additional 1,620,143 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CWK. Wall Street Zen downgraded shares of Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 23rd. Wolfe Research upgraded Cushman & Wakefield from a “peer perform” rating to an “outperform” rating and set a $19.00 price objective on the stock in a report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Cushman & Wakefield in a report on Wednesday, January 21st. Barclays restated a “positive” rating and set a $19.00 price target on shares of Cushman & Wakefield in a research report on Tuesday, January 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $19.00 price objective on shares of Cushman & Wakefield in a research report on Friday, January 16th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Cushman & Wakefield Stock Performance

Cushman & Wakefield stock opened at $13.40 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.34. The firm has a market cap of $3.11 billion, a P/E ratio of 35.26 and a beta of 1.49. Cushman & Wakefield PLC has a 1-year low of $7.64 and a 1-year high of $17.40. The firm has a 50-day moving average of $15.41 and a 200-day moving average of $15.71.

Cushman & Wakefield (NYSE:CWK) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. Cushman & Wakefield had a return on equity of 15.02% and a net margin of 0.86%.The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the prior year, the company posted $0.48 EPS. Cushman & Wakefield’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts expect that Cushman & Wakefield PLC will post 1.2 EPS for the current year.

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.