Renaissance Technologies LLC Invests $6.10 Million in Cushman & Wakefield PLC $CWK

Renaissance Technologies LLC purchased a new position in shares of Cushman & Wakefield PLC (NYSE:CWK) in the 1st quarter, Holdings Channel reports. The fund purchased 497,600 shares of the company’s stock, valued at approximately $6,101,000.

A number of other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Cushman & Wakefield by 126.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company’s stock valued at $26,000 after purchasing an additional 1,321 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Cushman & Wakefield in the 4th quarter worth about $32,000. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 purchasing an additional 1,318 shares during the period. Quarry LP increased its stake in shares of 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 purchasing an additional 2,192 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Cushman & Wakefield by 4,217.7% during the fourth quarter. Covestor Ltd now owns 2,677 shares of the company’s stock valued at $43,000 after buying an additional 2,615 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

CWK has been the subject of several analyst reports. Weiss Ratings upgraded Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $17.00 target price on Cushman & Wakefield and gave the company a “buy” rating in a research report on Friday, May 22nd. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Cushman & Wakefield Stock Performance

CWK stock opened at $14.10 on Wednesday. The company has a 50-day simple moving average of $13.30 and a 200 day simple moving average of $13.62. The company has a market capitalization of $3.30 billion, a P/E ratio of 44.05 and a beta of 1.43. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.34. Cushman & Wakefield PLC has a fifty-two week low of $11.56 and a fifty-two week high of $17.40.

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

Insider Activity 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 shares were sold at an average price of $13.25, for a total transaction of $328,971.00. Following the transaction, the insider owned 70,876 shares in the company, valued at $939,107. This trade represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is owned by corporate insiders.

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.