Jennison Associates LLC Takes Position in Cushman & Wakefield PLC $CWK

Jennison Associates LLC purchased a new position in Cushman & Wakefield PLC (NYSE:CWK) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 544,224 shares of the company’s stock, valued at approximately $6,672,000. Jennison Associates LLC owned 0.23% of Cushman & Wakefield at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Balyasny Asset Management L.P. grew its holdings in Cushman & Wakefield by 128.6% in the second 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 period. Channing Capital Management LLC raised its stake in shares of Cushman & Wakefield by 46.0% during the 4th quarter. Channing Capital Management LLC now owns 5,105,717 shares of the company’s stock worth $82,662,000 after buying an additional 1,609,190 shares during the period. Bamco Inc. NY acquired a new position in shares of Cushman & Wakefield during the 4th quarter worth approximately $23,982,000. Millennium Management LLC lifted its position in shares of Cushman & Wakefield by 374.6% during the 3rd quarter. Millennium Management LLC now owns 1,716,049 shares of the company’s stock valued at $27,320,000 after buying an additional 1,354,476 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Cushman & Wakefield by 23.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,519,263 shares of the company’s stock valued at $105,549,000 after buying an additional 1,233,055 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Buying and Selling

In other Cushman & Wakefield news, insider Nathaniel Robinson sold 24,828 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $13.25, for a total value of $328,971.00. Following the transaction, the insider directly owned 70,876 shares in the company, valued at $939,107. The trade was a 25.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.74% of the stock is owned by company insiders.

Cushman & Wakefield Price Performance

Shares of NYSE CWK opened at $13.09 on Wednesday. The firm has a 50-day simple moving average of $13.19 and a 200-day simple moving average of $13.85. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 40.92 and a beta of 1.44. 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 52 week low of $11.42 and a 52 week high of $17.40.

Cushman & Wakefield (NYSE:CWK) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm 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%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. On average, equities analysts predict that Cushman & Wakefield PLC will post 1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on CWK. The Goldman Sachs Group set a $17.00 price target on shares of Cushman & Wakefield and gave the stock a “buy” rating in a report on Friday, May 22nd. Wall Street Zen downgraded shares of Cushman & Wakefield from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings upgraded shares of Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.