Cushman & Wakefield (NYSE:CWK) Stock Price Down 10.9% – Here’s What Happened

Shares of Cushman & Wakefield PLC (NYSE:CWK) were down 10.9% during trading on Wednesday . The stock traded as low as $14.58 and last traded at $14.4460. Approximately 712,464 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 1,516,038 shares. The stock had previously closed at $16.21.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CWK. Barclays restated a “positive” rating and issued a $19.00 price objective on shares of Cushman & Wakefield in a research report on Tuesday, January 13th. Wall Street Zen cut Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a report on Saturday. Citizens Jmp lifted their price target on Cushman & Wakefield from $16.00 to $19.00 and gave the company a “market outperform” rating in a research note on Monday, November 3rd. Citigroup upgraded Cushman & Wakefield from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, November 20th. Finally, Zacks Research downgraded Cushman & Wakefield from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.61.

Cushman & Wakefield Trading Down 14.0%

The business has a 50-day moving average of $16.20 and a 200 day moving average of $15.73. The stock has a market cap of $3.23 billion, a PE ratio of 14.52 and a beta of 1.47. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.07 and a current ratio of 1.07.

Hedge Funds Weigh In On Cushman & Wakefield

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Cushman & Wakefield by 126.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,364 shares of the company’s stock worth $26,000 after acquiring an additional 1,321 shares during the last quarter. First Horizon Corp purchased a new position in shares of Cushman & Wakefield during the 3rd quarter worth $32,000. Quarry LP boosted its holdings in shares of Cushman & Wakefield by 4,473.5% during the third quarter. Quarry LP now owns 2,241 shares of the company’s stock worth $36,000 after purchasing an additional 2,192 shares during the last quarter. Covestor Ltd grew its position in shares of Cushman & Wakefield by 4,217.7% in the fourth quarter. Covestor Ltd now owns 2,677 shares of the company’s stock valued at $43,000 after purchasing an additional 2,615 shares during the period. Finally, Community Bank N.A. acquired a new position in Cushman & Wakefield in the third quarter valued at $45,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.