Cushman & Wakefield PLC (CWK) Holdings Lifted by Lakewood Capital Management LP
Lakewood Capital Management LP raised its stake in shares of Cushman & Wakefield PLC (NYSE:CWK) by 24.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,972,350 shares of the company’s stock after buying an additional 588,000 shares during the quarter. Cushman & Wakefield comprises 1.4% of Lakewood Capital Management LP’s portfolio, making the stock its 23rd largest holding. Lakewood Capital Management LP owned approximately 1.43% of Cushman & Wakefield worth $43,010,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. purchased a new position in shares of Cushman & Wakefield during the third quarter worth about $166,972,000. FMR LLC purchased a new position in shares of Cushman & Wakefield during the third quarter worth about $129,496,000. Vanguard Group Inc purchased a new position in shares of Cushman & Wakefield during the third quarter worth about $59,054,000. Vanguard Group Inc. purchased a new position in shares of Cushman & Wakefield during the third quarter worth about $59,054,000. Finally, BlackRock Inc. purchased a new position in shares of Cushman & Wakefield during the third quarter worth about $50,654,000. 26.81% of the stock is owned by institutional investors and hedge funds.
Shares of CWK stock opened at $18.50 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.94. Cushman & Wakefield PLC has a fifty-two week low of $13.25 and a fifty-two week high of $19.62. The company has a market capitalization of $3.77 billion and a price-to-earnings ratio of -16.97.
CWK has been the subject of several recent analyst reports. Zacks Investment Research raised Cushman & Wakefield from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a report on Monday, January 14th. Bank of America set a $21.00 price objective on Cushman & Wakefield and gave the stock a “buy” rating in a report on Thursday, February 28th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $20.11.
In related news, insider W Brett White sold 57,374 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $15.63, for a total transaction of $896,755.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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About Cushman & Wakefield
Cushman & Wakefield plc provides commercial real estate services in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and janitorial, maintenance, critical environment management, landscaping, and office services.
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