Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 1,853 Shares of Cushman & Wakefield plc (NYSE:CWK)

Posted by Defense World Staff on Aug 19th, 2023

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in Cushman & Wakefield plc (NYSE:CWK – Free Report) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 172,107 shares of the company’s stock after selling 1,853 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.08% of Cushman & Wakefield worth $1,814,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CWK. Franklin Resources Inc. grew its position in Cushman & Wakefield by 158.4% in the fourth quarter. Franklin Resources Inc. now owns 8,558,402 shares of the company’s stock valued at $106,638,000 after acquiring an additional 5,245,698 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Cushman & Wakefield in the fourth quarter valued at about $49,486,000. JPMorgan Chase & Co. grew its position in Cushman & Wakefield by 35.5% in the fourth quarter. JPMorgan Chase & Co. now owns 9,020,188 shares of the company’s stock valued at $112,392,000 after acquiring an additional 2,360,961 shares during the last quarter. Capital Research Global Investors bought a new position in Cushman & Wakefield in the first quarter valued at about $38,190,000. Finally, Norges Bank bought a new position in Cushman & Wakefield in the fourth quarter valued at about $20,778,000. Institutional investors own 93.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CWK. Raymond James decreased their target price on Cushman & Wakefield from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, August 1st. TheStreet lowered Cushman & Wakefield from a “c” rating to a “d” rating in a research note on Thursday, May 4th. Finally, Credit Suisse Group cut their price target on Cushman & Wakefield from $15.00 to $9.00 in a research note on Friday, May 19th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Cushman & Wakefield currently has an average rating of “Hold” and an average target price of $12.00.

Read Our Latest Stock Analysis on CWK

Cushman & Wakefield Stock Performance

Shares of CWK stock opened at $9.01 on Friday. The business’s 50-day moving average price is $9.19 and its 200-day moving average price is $10.08. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -112.63 and a beta of 1.35. Cushman & Wakefield plc has a 12 month low of $7.16 and a 12 month high of $16.73.

Cushman & Wakefield (NYSE:CWK – Get Free Report) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $1.64 billion. Cushman & Wakefield had a positive return on equity of 15.14% and a negative net margin of 0.18%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Equities research analysts forecast that Cushman & Wakefield plc will post 1 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Drone Holding Gp I. Ltd Pagac sold 3,000,000 shares of Cushman & Wakefield stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $8.62, for a total value of $25,860,000.00. Following the transaction, the insider now directly owns 22,717,475 shares of the company’s stock, valued at $195,824,634.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cushman & Wakefield news, major shareholder Drone Holding Gp I. Ltd Pagac sold 3,000,000 shares of Cushman & Wakefield stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $8.62, for a total value of $25,860,000.00. Following the completion of the sale, the insider now directly owns 22,717,475 shares in the company, valued at $195,824,634.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jodie W. Mclean sold 15,000 shares of Cushman & Wakefield stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $7.84, for a total value of $117,600.00. Following the completion of the sale, the director now owns 33,176 shares of the company’s stock, valued at $260,099.84. The disclosure for this sale can be found here. 1.19% of the stock is owned by insiders.

About Cushman & Wakefield

(Free Report)

Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East, and Africa; and Asia Pacific segments.