Verition Fund Management LLC Purchases 49,685 Shares of Cushman & Wakefield plc (NYSE:CWK)

Posted by Defense World Staff on Mar 5th, 2023

Verition Fund Management LLC grew its stake in Cushman & Wakefield plc (NYSE:CWK – Get Rating) by 279.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,443 shares of the company’s stock after acquiring an additional 49,685 shares during the period. Verition Fund Management LLC’s holdings in Cushman & Wakefield were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Lakewood Capital Management LP raised its stake in shares of Cushman & Wakefield by 0.4% in the third quarter. Lakewood Capital Management LP now owns 5,847,947 shares of the company’s stock worth $66,959,000 after acquiring an additional 25,919 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cushman & Wakefield by 16.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,050,685 shares of the company’s stock worth $34,929,000 after buying an additional 428,514 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Cushman & Wakefield by 166.5% during the third quarter. Tower Research Capital LLC TRC now owns 13,311 shares of the company’s stock worth $152,000 after buying an additional 8,317 shares during the last quarter. UBS Group AG raised its stake in shares of Cushman & Wakefield by 10.8% during the third quarter. UBS Group AG now owns 36,784 shares of the company’s stock worth $421,000 after buying an additional 3,585 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Cushman & Wakefield by 65.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 112,842 shares of the company’s stock worth $1,292,000 after buying an additional 44,550 shares during the last quarter. 83.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Cushman & Wakefield from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 27th. Wolfe Research cut shares of Cushman & Wakefield from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 31st. Credit Suisse Group cut shares of Cushman & Wakefield from an “outperform” rating to a “neutral” rating in a report on Monday, January 9th. Finally, Raymond James reduced their price target on shares of Cushman & Wakefield from $25.00 to $23.00 and set a “strong-buy” rating for the company in a report on Friday, January 20th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cushman & Wakefield presently has a consensus rating of “Moderate Buy” and an average price target of $21.40.

Cushman & Wakefield Stock Up 2.5 %

Cushman & Wakefield stock opened at $12.88 on Friday. The stock has a market capitalization of $2.91 billion, a PE ratio of 14.80 and a beta of 1.37. Cushman & Wakefield plc has a twelve month low of $10.04 and a twelve month high of $21.22. The company has a quick ratio of 1.08, a current ratio of 1.16 and a debt-to-equity ratio of 1.93. The company has a 50 day moving average of $13.63 and a 200-day moving average of $12.90.

Cushman & Wakefield (NYSE:CWK – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Cushman & Wakefield had a net margin of 1.94% and a return on equity of 28.56%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cushman & Wakefield plc will post 1.58 EPS for the current fiscal year.

Cushman & Wakefield Profile

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Cushman & Wakefield Plc engages in the provision of commercial real estate services It operates through the following geographical segments: Americas; Europe, Middle East and Africa (EMEA); and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.