Renaissance Technologies LLC Cuts Stock Position in Cushman & Wakefield plc (NYSE:CWK)

Renaissance Technologies LLC trimmed its holdings in Cushman & Wakefield plc (NYSE:CWK) by 68.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 132,100 shares of the company’s stock after selling 282,400 shares during the period. Renaissance Technologies LLC’s holdings in Cushman & Wakefield were worth $1,374,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CWK. SummerHaven Investment Management LLC raised its stake in Cushman & Wakefield by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 79,929 shares of the company’s stock valued at $831,000 after purchasing an additional 1,395 shares during the period. CWM LLC raised its position in shares of Cushman & Wakefield by 61.4% during the second quarter. CWM LLC now owns 5,468 shares of the company’s stock valued at $57,000 after buying an additional 2,080 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cushman & Wakefield by 7.4% in the first quarter. ProShare Advisors LLC now owns 33,539 shares of the company’s stock worth $351,000 after buying an additional 2,303 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Cushman & Wakefield by 2.5% during the first quarter. Illinois Municipal Retirement Fund now owns 98,800 shares of the company’s stock worth $1,033,000 after acquiring an additional 2,418 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in Cushman & Wakefield by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 147,178 shares of the company’s stock valued at $1,539,000 after acquiring an additional 2,428 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Cushman & Wakefield Stock Down 4.5 %

NYSE CWK opened at $12.62 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.83. Cushman & Wakefield plc has a 52 week low of $6.24 and a 52 week high of $13.99. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 315.50 and a beta of 1.30. The company has a fifty day moving average of $12.96 and a two-hundred day moving average of $11.44.

Cushman & Wakefield (NYSE:CWK) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Cushman & Wakefield had a net margin of 0.22% and a return on equity of 12.08%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $0.22 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. On average, analysts predict that Cushman & Wakefield plc will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CWK shares. Raymond James increased their price objective on shares of Cushman & Wakefield from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on Cushman & Wakefield from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.80.

Cushman & Wakefield Company Profile

Cushman & Wakefield plc, together with its subsidiaries, provides commercial real estate services under the Cushman & Wakefield brand in the United States, Australia, the United Kingdom, and internationally. The company operates through Americas; Europe, Middle East and Africa; and Asia Pacific segments.