Cushman & Wakefield (NYSE:CWK) Trading Down 10.9% – What’s Next?

Shares of Cushman & Wakefield PLC (NYSE:CWK) were down 10.9% on Wednesday . The company traded as low as $14.58 and last traded at $14.4460. Approximately 712,464 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,516,038 shares. The stock had previously closed at $16.21.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CWK. JMP Securities set a $19.00 price target on shares of Cushman & Wakefield in a research note on Monday, November 3rd. Zacks Research downgraded shares of Cushman & Wakefield from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Wall Street Zen cut shares of Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 7th. Citigroup raised shares of Cushman & Wakefield from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cushman & Wakefield in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.61.

Cushman & Wakefield Price Performance

The company has a market capitalization of $2.99 billion, a P/E ratio of 13.43 and a beta of 1.47. The firm’s fifty day moving average is $16.02 and its 200 day moving average is $15.70. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.07 and a current ratio of 1.07.

Institutional Investors Weigh In On Cushman & Wakefield

Several hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings 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 worth $26,000 after purchasing an additional 1,321 shares during the last quarter. First Horizon Corp purchased a new stake in Cushman & Wakefield in the 3rd quarter valued at about $32,000. Caitong International Asset Management Co. Ltd grew its stake in Cushman & Wakefield by 184.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company’s stock worth $33,000 after acquiring an additional 1,318 shares in the last quarter. Quarry LP grew its stake in Cushman & Wakefield by 4,473.5% in the 3rd quarter. Quarry LP now owns 2,241 shares of the company’s stock worth $36,000 after acquiring an additional 2,192 shares in the last quarter. Finally, Covestor Ltd increased its position 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 worth $43,000 after acquiring an additional 2,615 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

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.