Quantbot Technologies LP Invests $1.35 Million in Cushman & Wakefield PLC $CWK

Quantbot Technologies LP acquired a new position in shares of Cushman & Wakefield PLC (NYSE:CWK) in the third quarter, HoldingsChannel reports. The fund acquired 84,735 shares of the company’s stock, valued at approximately $1,349,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC bought a new position in Cushman & Wakefield during the second quarter worth about $51,764,000. Channing Capital Management LLC acquired a new stake in shares of Cushman & Wakefield in the 3rd quarter valued at approximately $55,665,000. Balyasny Asset Management L.P. raised its position in shares of Cushman & Wakefield by 128.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,879,485 shares of the company’s stock valued at $31,876,000 after acquiring an additional 1,620,143 shares during the period. New York State Common Retirement Fund boosted its stake in Cushman & Wakefield by 486.1% during the 3rd quarter. New York State Common Retirement Fund now owns 1,117,297 shares of the company’s stock worth $17,787,000 after acquiring an additional 926,664 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Cushman & Wakefield by 416.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 574,541 shares of the company’s stock valued at $6,360,000 after purchasing an additional 463,241 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cushman & Wakefield Stock Performance

CWK opened at $13.23 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 34.82 and a beta of 1.49. The business’s 50-day moving average price is $15.34 and its two-hundred day moving average price is $15.69. Cushman & Wakefield PLC has a 1 year low of $7.64 and a 1 year high of $17.40. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.10 and a quick ratio of 1.10.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Cushman & Wakefield in a report on Wednesday, January 21st. Morgan Stanley restated an “overweight” rating and issued a $19.00 price objective on shares of Cushman & Wakefield in a research report on Friday, January 16th. Wolfe Research upgraded Cushman & Wakefield from a “peer perform” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Monday, February 9th. 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. Finally, Wall Street Zen lowered Cushman & Wakefield from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 23rd. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.56.

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.