Victory Capital Management Inc. Decreases Position in Cushman & Wakefield PLC $CWK

Victory Capital Management Inc. decreased its holdings in Cushman & Wakefield PLC (NYSE:CWK) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,572,316 shares of the company’s stock after selling 201,865 shares during the period. Victory Capital Management Inc.’s holdings in Cushman & Wakefield were worth $72,791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Cushman & Wakefield by 126.7% in the second 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 period. First Horizon Corp acquired a new stake in Cushman & Wakefield in the 3rd quarter valued at about $32,000. Osaic Holdings Inc. boosted its stake in shares of Cushman & Wakefield by 85.9% in the 2nd quarter. Osaic Holdings Inc. now owns 4,354 shares of the company’s stock valued at $48,000 after buying an additional 2,012 shares during the period. CENTRAL TRUST Co acquired a new position in shares of Cushman & Wakefield during the second quarter worth about $50,000. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Cushman & Wakefield by 48.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the company’s stock worth $64,000 after buying an additional 1,900 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Citigroup raised shares of Cushman & Wakefield from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, November 20th. Wall Street Zen lowered shares of Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd. Wolfe Research upgraded shares of Cushman & Wakefield from a “peer perform” rating to an “outperform” rating and set a $19.00 target price for the company in a research note on Monday, February 9th. Morgan Stanley reissued an “overweight” rating and issued a $19.00 target price on shares of Cushman & Wakefield in a report on Friday, January 16th. Finally, Barclays reaffirmed a “positive” rating and set a $19.00 price target on shares of Cushman & Wakefield in a report on Tuesday, January 13th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.56.

Cushman & Wakefield Trading Down 1.4%

NYSE CWK opened at $13.23 on Friday. The firm’s fifty day moving average price is $15.34 and its 200 day moving average price is $15.69. Cushman & Wakefield PLC has a 12 month low of $7.64 and a 12 month high of $17.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 34.82 and a beta of 1.49.

Cushman & Wakefield (NYSE:CWK) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.83 billion. Cushman & Wakefield had a net margin of 0.86% and a return on equity of 15.02%. Cushman & Wakefield’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. On average, sell-side analysts expect that Cushman & Wakefield PLC will post 1.2 earnings per share for the current fiscal year.

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.