Cushman & Wakefield (NYSE:CWK) Stock Price Up 7.9% – Here’s Why

Cushman & Wakefield PLC (NYSE:CWK) rose 7.9% during mid-day trading on Wednesday . The company traded as high as $13.73 and last traded at $13.8850. 196,126 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,971,833 shares. The stock had previously closed at $12.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Cushman & Wakefield from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings upgraded shares of Cushman & Wakefield from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group set a $17.00 price target on shares of Cushman & Wakefield and gave the stock 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, Cushman & Wakefield presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Cushman & Wakefield Stock Performance

The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 43.25 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. The stock has a 50-day moving average price of $13.23 and a 200 day moving average price of $13.95.

Cushman & Wakefield (NYSE:CWK) last issued its earnings results on Wednesday, May 6th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. Cushman & Wakefield had a net margin of 0.70% and a return on equity of 15.41%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company earned $0.09 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts forecast that Cushman & Wakefield PLC will post 1.45 EPS for the current year.

Insider Activity

In related news, insider Nathaniel Robinson sold 24,828 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $13.25, for a total value of $328,971.00. Following the transaction, the insider owned 70,876 shares of the company’s stock, valued at $939,107. This represents a 25.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.74% of the company’s stock.

Institutional Trading of Cushman & Wakefield

A number of institutional investors have recently bought and sold shares of the business. 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 in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Cushman & Wakefield during the fourth quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Cushman & Wakefield by 184.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company’s stock worth $33,000 after buying an additional 1,318 shares during the last quarter. Quarry LP boosted its holdings in shares of Cushman & Wakefield by 4,473.5% in the 3rd quarter. Quarry LP now owns 2,241 shares of the company’s stock valued at $36,000 after buying an additional 2,192 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Cushman & Wakefield by 4,217.7% in the 4th quarter. Covestor Ltd now owns 2,677 shares of the company’s stock valued at $43,000 after buying an additional 2,615 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.