Short Interest in Cushman & Wakefield PLC (NYSE:CWK) Rises By 13.5%

Cushman & Wakefield PLC (NYSE:CWK) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 5,290,000 shares, a growth of 13.5% from the June 15th total of 4,660,000 shares. Based on an average daily trading volume, of 1,060,000 shares, the days-to-cover ratio is presently 5.0 days. Approximately 3.1% of the shares of the stock are sold short.

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Cushman & Wakefield in the fourth quarter valued at approximately $25,680,000. TimesSquare Capital Management LLC boosted its holdings in Cushman & Wakefield by 35.9% during the 1st quarter. TimesSquare Capital Management LLC now owns 4,131,100 shares of the company’s stock valued at $48,499,000 after acquiring an additional 1,092,000 shares during the period. Nuveen Asset Management LLC purchased a new stake in Cushman & Wakefield during the first quarter worth about $5,498,000. Marshall Wace LLP acquired a new stake in shares of Cushman & Wakefield during the fourth quarter worth about $5,148,000. Finally, Invesco Ltd. boosted its stake in shares of Cushman & Wakefield by 201.3% in the first quarter. Invesco Ltd. now owns 189,241 shares of the company’s stock valued at $2,222,000 after purchasing an additional 126,427 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Several brokerages have recently weighed in on CWK. Morgan Stanley decreased their target price on Cushman & Wakefield from $21.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Zacks Investment Research upgraded shares of Cushman & Wakefield from a “strong sell” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered shares of Cushman & Wakefield from an “overweight” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, April 9th. Credit Suisse Group reduced their price target on shares of Cushman & Wakefield from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Finally, UBS Group lowered their price objective on Cushman & Wakefield from $24.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $16.86.

NYSE CWK traded down $0.51 during trading hours on Thursday, hitting $11.14. 554,486 shares of the company’s stock traded hands, compared to its average volume of 896,509. The company has a market capitalization of $2.60 billion, a PE ratio of -67.44 and a beta of 1.59. The company has a debt-to-equity ratio of 2.82, a current ratio of 1.12 and a quick ratio of 1.12. Cushman & Wakefield has a 52-week low of $6.84 and a 52-week high of $20.80. The firm’s 50-day moving average is $11.80 and its 200-day moving average is $14.68.

Cushman & Wakefield (NYSE:CWK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.12). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Cushman & Wakefield had a negative return on equity of 2.77% and a negative net margin of 0.39%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 EPS. Equities research analysts predict that Cushman & Wakefield will post -0.27 earnings per share for the current fiscal year.

Cushman & Wakefield Company Profile

Cushman & Wakefield plc provides commercial real estate services under the Cushman & Wakefield brand in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It offers integrated facilities management, project and development, portfolio administration, transaction management, and strategic consulting services; property management services, including client accounting, engineering and operations, lease compliance administration, project and development, and sustainability services; and janitorial, maintenance, critical environment management, landscaping, and office services.

See Also: Hold Rating

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