Bank of America Corp DE Sells 6,928 Shares of Cushman & Wakefield plc (NYSE:CWK)

Bank of America Corp DE trimmed its position in Cushman & Wakefield plc (NYSE:CWK) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,997,848 shares of the company’s stock after selling 6,928 shares during the quarter. Bank of America Corp DE’s holdings in Cushman & Wakefield were worth $26,132,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in shares of Cushman & Wakefield by 0.4% during the fourth quarter. Ameriprise Financial Inc. now owns 3,951,305 shares of the company’s stock worth $51,683,000 after buying an additional 17,050 shares in the last quarter. Aristeia Capital L.L.C. grew its stake in shares of Cushman & Wakefield by 105.0% in the fourth quarter. Aristeia Capital L.L.C. now owns 43,870 shares of the company’s stock worth $574,000 after purchasing an additional 22,469 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Cushman & Wakefield in the fourth quarter worth $262,000. Jane Street Group LLC grew its stake in shares of Cushman & Wakefield by 101.8% in the fourth quarter. Jane Street Group LLC now owns 14,542 shares of the company’s stock worth $190,000 after purchasing an additional 837,554 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Cushman & Wakefield by 17.0% in the fourth quarter. Northern Trust Corp now owns 3,783,117 shares of the company’s stock worth $49,483,000 after purchasing an additional 549,718 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Cushman & Wakefield from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. UBS Group cut their price target on shares of Cushman & Wakefield from $14.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Citigroup cut their price target on shares of Cushman & Wakefield from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. The Goldman Sachs Group cut their price target on shares of Cushman & Wakefield from $13.00 to $11.50 and set a “sell” rating on the stock in a research report on Wednesday, March 19th. Finally, Morgan Stanley cut their price target on shares of Cushman & Wakefield from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.93.

Cushman & Wakefield Price Performance

Shares of NYSE CWK opened at $10.57 on Friday. The firm’s 50-day moving average price is $9.60 and its 200-day moving average price is $12.12. Cushman & Wakefield plc has a 1-year low of $7.64 and a 1-year high of $16.11. The firm has a market capitalization of $2.44 billion, a P/E ratio of 19.21 and a beta of 1.37. The company has a current ratio of 1.15, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67.

Cushman & Wakefield (NYSE:CWK) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.07. Cushman & Wakefield had a net margin of 1.39% and a return on equity of 12.62%. The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.26 billion. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities research analysts anticipate that Cushman & Wakefield plc will post 1.2 earnings per share for the current fiscal year.

Cushman & Wakefield Company Profile

Cushman & Wakefield Plc engages in the provision of commercial real estate services. It operates through the following geographical segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC). The Americas segment consists of operations located in the United States, Canada and key markets in Latin America.