Bank of New York Mellon Corp Sells 31,605 Shares of Cushman & Wakefield plc (NYSE:CWK)

Bank of New York Mellon Corp cut its stake in Cushman & Wakefield plc (NYSE:CWK) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,405,149 shares of the company’s stock after selling 31,605 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Cushman & Wakefield worth $14,810,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Laurel Wealth Advisors Inc. increased its position in shares of Cushman & Wakefield by 4.2% in the 4th quarter. Laurel Wealth Advisors Inc. now owns 23,221 shares of the company’s stock valued at $289,000 after buying an additional 937 shares in the last quarter. Arizona State Retirement System raised its position in shares of Cushman & Wakefield by 2.7% during the first quarter. Arizona State Retirement System now owns 42,519 shares of the company’s stock worth $448,000 after purchasing an additional 1,127 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cushman & Wakefield by 5.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,278 shares of the company’s stock valued at $577,000 after purchasing an additional 2,215 shares in the last quarter. Bank of Montreal Can grew its position in shares of Cushman & Wakefield by 7.0% in the 1st quarter. Bank of Montreal Can now owns 34,037 shares of the company’s stock valued at $711,000 after purchasing an additional 2,216 shares during the period. Finally, Advisor Group Holdings Inc. increased its stake in Cushman & Wakefield by 3,128.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,292 shares of the company’s stock worth $46,000 after purchasing an additional 2,221 shares in the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cushman & Wakefield

In related news, major shareholder Drone Holding Gp I. Ltd Pagac sold 3,000,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were 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 approximately $195,824,634.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CWK. Credit Suisse Group reduced their price target on shares of Cushman & Wakefield from $15.00 to $9.00 in a report on Friday, May 19th. TheStreet cut Cushman & Wakefield from a “c” rating to a “d” rating in a report on Thursday, May 4th. Finally, Raymond James cut their price target on Cushman & Wakefield from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cushman & Wakefield presently has an average rating of “Hold” and an average price target of $12.00.

Cushman & Wakefield Stock Performance

CWK opened at $9.20 on Thursday. The firm has a market capitalization of $2.09 billion, a PE ratio of -115.00 and a beta of 1.35. Cushman & Wakefield plc has a 52-week low of $7.16 and a 52-week high of $15.82. The business’s 50-day simple moving average is $9.23 and its 200 day simple moving average is $9.73. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.24 and a current ratio of 1.24.

Cushman & Wakefield (NYSE:CWK) last issued its earnings results on Monday, July 31st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $1.64 billion. Cushman & Wakefield had a negative net margin of 0.18% and a positive return on equity of 15.14%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, sell-side analysts expect that Cushman & Wakefield plc will post 1 earnings per share for the current fiscal year.

Cushman & Wakefield Company Profile

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.