Basswood Capital Management L.L.C. Lowers Position in Cushman & Wakefield PLC $CWK

Basswood Capital Management L.L.C. lowered its holdings in Cushman & Wakefield PLC (NYSE:CWK) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 961,323 shares of the company’s stock after selling 59,737 shares during the period. Basswood Capital Management L.L.C.’s holdings in Cushman & Wakefield were worth $15,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Cerity Partners LLC raised its holdings in shares of Cushman & Wakefield by 7.4% in the 4th quarter. Cerity Partners LLC now owns 12,572 shares of the company’s stock valued at $204,000 after acquiring an additional 865 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Cushman & Wakefield by 1.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 53,029 shares of the company’s stock valued at $859,000 after purchasing an additional 900 shares during the last quarter. First Horizon Corp increased its position in shares of Cushman & Wakefield by 52.0% during the 4th quarter. First Horizon Corp now owns 3,040 shares of the company’s stock valued at $49,000 after purchasing an additional 1,040 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Cushman & Wakefield by 9.3% during the 4th quarter. Sanctuary Advisors LLC now owns 12,477 shares of the company’s stock valued at $202,000 after purchasing an additional 1,061 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Cushman & Wakefield by 6.6% during the 2nd quarter. First Trust Advisors LP now owns 17,567 shares of the company’s stock valued at $194,000 after purchasing an additional 1,091 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cushman & Wakefield Price Performance

CWK opened at $13.50 on Friday. The stock’s 50 day simple moving average is $13.44 and its 200 day simple moving average is $14.38. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.13 and a quick ratio of 1.13. Cushman & Wakefield PLC has a 1 year low of $10.14 and a 1 year high of $17.40. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 42.19 and a beta of 1.44.

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

Insider Transactions 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 transaction of $328,971.00. Following the transaction, the insider directly owned 70,876 shares in the company, valued at $939,107. This trade represents a 25.94% decrease in their position. 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CWK. Weiss Ratings lowered Cushman & Wakefield from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 4th. Wall Street Zen lowered Cushman & Wakefield from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Barclays reduced their price objective on Cushman & Wakefield from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, March 13th. Finally, The Goldman Sachs Group set a $17.00 price objective on Cushman & Wakefield and gave the company a “buy” rating in a research report on Friday, May 22nd. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

Cushman & Wakefield 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.