Basswood Capital Management L.L.C. Reduces Position in Cushman & Wakefield PLC $CWK

Basswood Capital Management L.L.C. cut its holdings in shares of Cushman & Wakefield PLC (NYSE:CWK) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 961,323 shares of the company’s stock after selling 59,737 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.42% of Cushman & Wakefield worth $15,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CWK. Royal Bank of Canada lifted its holdings in Cushman & Wakefield by 39.6% during the first quarter. Royal Bank of Canada now owns 98,508 shares of the company’s stock valued at $1,007,000 after purchasing an additional 27,940 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cushman & Wakefield by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 136,261 shares of the company’s stock valued at $1,393,000 after purchasing an additional 5,929 shares during the last quarter. United Services Automobile Association purchased a new stake in Cushman & Wakefield during the first quarter valued at about $139,000. Jane Street Group LLC lifted its holdings in Cushman & Wakefield by 1,821.3% during the first quarter. Jane Street Group LLC now owns 279,397 shares of the company’s stock valued at $2,855,000 after purchasing an additional 264,855 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Cushman & Wakefield during the first quarter valued at about $218,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cushman & Wakefield

In other Cushman & Wakefield news, insider Nathaniel Robinson sold 24,828 shares of the firm’s 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 sale, the insider owned 70,876 shares of the company’s stock, valued at $939,107. This trade represents a 25.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Cushman & Wakefield Stock Performance

Shares of CWK opened at $13.50 on Friday. The stock’s 50-day simple moving average is $13.44 and its 200 day simple moving average is $14.38. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 42.19 and a beta of 1.44. 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 PLC has a 52-week low of $10.14 and a 52-week high of $17.40.

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

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.