Lighthouse Investment Partners LLC Acquires New Position in Cushman & Wakefield PLC $CWK

Lighthouse Investment Partners LLC acquired a new stake in Cushman & Wakefield PLC (NYSE:CWK) in the third quarter, HoldingsChannel.com reports. The fund acquired 474,750 shares of the company’s stock, valued at approximately $7,558,000.

Other institutional investors have also bought and sold shares of the company. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Cushman & Wakefield by 135.6% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 180,645 shares of the company’s stock valued at $2,876,000 after purchasing an additional 103,968 shares during the last quarter. Federated Hermes Inc. lifted its position in Cushman & Wakefield by 30.2% during the third quarter. Federated Hermes Inc. now owns 897,293 shares of the company’s stock worth $14,285,000 after buying an additional 208,129 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Cushman & Wakefield by 486.1% during the third quarter. New York State Common Retirement Fund now owns 1,117,297 shares of the company’s stock worth $17,787,000 after buying an additional 926,664 shares during the last quarter. Channing Capital Management LLC acquired a new position in Cushman & Wakefield during the third quarter worth $55,665,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cushman & Wakefield by 68.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 508,086 shares of the company’s stock valued at $8,114,000 after buying an additional 206,537 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cushman & Wakefield Trading Up 1.9%

CWK opened at $12.37 on Tuesday. Cushman & Wakefield PLC has a 52 week low of $7.64 and a 52 week high of $17.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $15.54. The firm has a market cap of $2.87 billion, a P/E ratio of 32.54 and a beta of 1.49.

Cushman & Wakefield (NYSE:CWK) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.83 billion. Cushman & Wakefield had a return on equity of 15.02% and a net margin of 0.86%.The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 EPS. On average, equities analysts expect that Cushman & Wakefield PLC will post 1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CWK. Citigroup raised Cushman & Wakefield from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, November 20th. Wall Street Zen lowered shares of Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a report on Monday, February 23rd. Morgan Stanley restated an “overweight” rating and set a $19.00 price objective on shares of Cushman & Wakefield in a research report on Friday, January 16th. Barclays reduced their target price on shares of Cushman & Wakefield from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cushman & Wakefield in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Cushman & Wakefield has an average rating of “Moderate Buy” and an average target price of $18.06.

About Cushman & Wakefield

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.