544,224 Shares in Cushman & Wakefield PLC $CWK Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in Cushman & Wakefield PLC (NYSE:CWK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 544,224 shares of the company’s stock, valued at approximately $6,672,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in Cushman & Wakefield in the 4th quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd boosted its holdings in Cushman & Wakefield by 184.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,032 shares of the company’s stock valued at $33,000 after purchasing an additional 1,318 shares during the period. Quarry LP grew its stake in Cushman & Wakefield by 4,473.5% during the 3rd quarter. Quarry LP now owns 2,241 shares of the company’s stock worth $36,000 after purchasing an additional 2,192 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Cushman & Wakefield by 126.7% during the 2nd 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 period. Finally, Covestor Ltd increased its holdings in Cushman & Wakefield by 4,217.7% during the 4th quarter. Covestor Ltd now owns 2,677 shares of the company’s stock worth $43,000 after purchasing an additional 2,615 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel Robinson sold 24,828 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $13.25, for a total transaction of $328,971.00. Following the completion of the sale, the insider owned 70,876 shares in the company, valued at $939,107. This represents a 25.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Cushman & Wakefield Stock Performance

Shares of CWK stock opened at $13.09 on Wednesday. The stock’s 50-day moving average is $13.19 and its two-hundred day moving average is $13.85. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 40.92 and a beta of 1.44. Cushman & Wakefield PLC has a 1 year low of $11.42 and a 1 year high of $17.40. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.13 and a current ratio of 1.13.

Cushman & Wakefield (NYSE:CWK) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $1.54 billion. Cushman & Wakefield had a return on equity of 15.41% and a net margin of 0.70%.The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Analysts predict that Cushman & Wakefield PLC will post 1.45 earnings per share for the current year.

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.