Cushman & Wakefield PLC’s Lock-Up Period Set To Expire Tomorrow (NYSE:CWK)
Cushman & Wakefield’s (NYSE:CWK) lock-up period is set to expire on Tuesday, January 29th. Cushman & Wakefield had issued 45,000,000 shares in its initial public offering on August 2nd. The total size of the offering was $765,000,000 based on an initial share price of $17.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.
A number of equities analysts have recently issued reports on CWK shares. Zacks Investment Research upgraded shares of Cushman & Wakefield from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Monday, October 29th. Barclays restated a “buy” rating and set a $19.00 target price on shares of Cushman & Wakefield in a research report on Wednesday, October 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Cushman & Wakefield has a consensus rating of “Buy” and an average target price of $20.00.
Shares of CWK opened at $16.18 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.38 and a quick ratio of 1.38. Cushman & Wakefield has a 12-month low of $13.25 and a 12-month high of $19.45.
A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in Cushman & Wakefield in the 3rd quarter valued at $166,972,000. FMR LLC purchased a new position in Cushman & Wakefield in the 3rd quarter valued at $129,496,000. Vanguard Group Inc purchased a new position in Cushman & Wakefield in the 3rd quarter valued at $59,054,000. Vanguard Group Inc. purchased a new position in Cushman & Wakefield in the 3rd quarter valued at $59,054,000. Finally, BlackRock Inc. purchased a new position in Cushman & Wakefield in the 3rd quarter valued at $50,654,000. Hedge funds and other institutional investors own 26.19% of the company’s stock.
Cushman & Wakefield Company Profile
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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