Erste Asset Management GmbH Buys New Position in Cushman & Wakefield PLC $CWK

Erste Asset Management GmbH acquired a new position in shares of Cushman & Wakefield PLC (NYSE:CWK) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 54,600 shares of the company’s stock, valued at approximately $903,000.

A number of other hedge funds also recently added to or reduced their stakes in CWK. EverSource Wealth Advisors LLC lifted its position 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 acquiring an additional 1,321 shares during the period. Quarry LP lifted 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 during the period. Covestor Ltd raised its holdings in Cushman & Wakefield by 4,217.7% during the fourth 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 last quarter. Community Bank N.A. acquired a new position in Cushman & Wakefield during the third quarter worth $45,000. Finally, Osaic Holdings Inc. raised its holdings in Cushman & Wakefield by 85.9% during the second quarter. Osaic Holdings Inc. now owns 4,354 shares of the company’s stock worth $48,000 after purchasing an additional 2,012 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cushman & Wakefield Price Performance

Shares of NYSE CWK opened at $13.25 on Thursday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 41.42 and a beta of 1.44. Cushman & Wakefield PLC has a 1-year low of $10.14 and a 1-year high of $17.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average of $13.40 and a 200-day moving average of $14.40.

Cushman & Wakefield (NYSE:CWK) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Cushman & Wakefield had a return on equity of 15.41% and a net margin of 0.70%.Cushman & Wakefield’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. On average, equities analysts anticipate that Cushman & Wakefield PLC will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

CWK has been the subject of several research reports. Weiss Ratings cut Cushman & Wakefield from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 4th. The Goldman Sachs Group set a $17.00 target price on Cushman & Wakefield and gave the company a “buy” rating in a research note on Friday, May 22nd. Barclays dropped their price target on Cushman & Wakefield from $19.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, March 13th. Finally, Wall Street Zen lowered Cushman & Wakefield from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cushman & Wakefield has a consensus rating of “Hold” and an average price target of $18.00.

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.