Victory Capital Management Inc. reduce holdings in Cushman & Wakefield plc (NYSE:CWK)

VaselineMay 6, 2024

0 4 minutes read

Victory Capital Management Inc. lessened its holdings in shares of Cushman & Wakefield plc (NYSE:CWK – Free Report) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,098,252 shares of the company’s stock after selling 100,077 shares during the period. Victory Capital Management Inc. owned about 1.80% of Cushman & Wakefield worth $44,261,000 as of its most recent SEC filing.

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Several other institutional investors and hedge funds have also modified their holdings of CWK. DigitalBridge Group Inc. purchased a new position in Cushman & Wakefield during the third quarter valued at about $7,473,000. FMR LLC boosted its stake in Cushman & Wakefield by 3.9% in the third quarter. FMR LLC now owns 22,232,050 shares of the company’s stock valued at $169,408,000 after buying an additional 834,176 shares during the last quarter. Vaughan Nelson Investment Management LP purchased a new stake in Cushman & Wakefield in the fourth quarter valued at about $8,742,000. Vanguard Group Inc. raised its stake in shares of Cushman & Wakefield by 2.6% during the third quarter. Vanguard Group Inc. now owns 26,579,988 shares of the company’s stock worth $202,540,000 after buying an additional 665,070 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Cushman & Wakefield by 822.3% in the third quarter. Deutsche Bank AG now owns 648,593 shares of the company’s stock worth $4,942,000 after buying an additional 578,266 shares in the last quarter. 95.56% of shares are currently owned by institutional investors.

Cushman & Wakefield trading rose 0.3%

NYSE:CWK traded up $0.03 during trading hours on Monday, hitting $10.05. 946,554 shares of the company traded hands, compared to its average volume of 2,049,497. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 250.50 and a beta of 1.33. Cushman & Wakefield plc has a one year low of $6.24 and a one year high of $11.76. The company has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $9.55. The company has a current ratio of 1.13, a quick ratio of 1.13, and a debt-to-equity ratio of 1.89.

Cushman & Wakefield (NYSE:CWK – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.06. Cushman & Wakefield had a return on equity of 12.41% and a net margin of 0.13%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $1.78 billion. In the same period last year, the company earned $0.46 per share. The company’s revenue was down 3.6% compared to the same quarter last year. sell-side analysts expect that Cushman & Wakefield plc will post 0.98 EPS for the current fiscal year.

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In other news, major shareholder Tpg Gp A, Llc sold 7,734,954 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $9.74, for a total value of $75,338,451.96. Following the transaction, the insider now directly owns 17,098,001 shares of the company’s stock, valued at approximately $166,534,529.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In related news, major shareholder Tpg Gp A, Llc sold 7,734,954 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $9.74, for a total transaction of $75,338,451.96. Following the transaction, the insider now owns 17,098,001 shares in the company, valued at approximately $166,534,529.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, insider Nathaniel Robinson sold 40,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $9.99, for a total transaction of $399,600.00. Following the completion of the sale, the insider now owns 40,427 shares of the company’s stock, valued at $403,865.73. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s shares.

Analysts set new price targets

CWK has been the subject of several recent research reports. Raymond James downgraded Cushman & Wakefield from a “strong-buy” rating to an “outperform” rating and set a $13.00 price objective on the stock. in a report on Wednesday, April 3. Wolfe Research reissued a “peer perform” rating on shares of Cushman & Wakefield in a research note on Tuesday, April 9th. Finally, Jefferies Financial Group assumed coverage on Cushman & Wakefield in a research note on Wednesday, April 10th. They issued a “buy” rating and a $13.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.08, according to data from MarketBeat.

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About Cushman & Wakefield

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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 across America; Europe, Middle East and Africa; and the Asia Pacific segments.