Cushman & Wakefield Sees Unusually High Options Volume (NYSE:CWK)

Cushman & Wakefield plc (NYSE:CWK) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 7,796 call options on the stock. This represents an increase of approximately 4,231% compared to the average daily volume of 180 call options.

Cushman & Wakefield Stock Performance

Shares of CWK opened at $10.20 on Wednesday. Cushman & Wakefield has a 52-week low of $6.24 and a 52-week high of $11.76. The firm has a market capitalization of $2.34 billion, a PE ratio of 255.00 and a beta of 1.33. The firm has a 50-day moving average price of $9.91 and a 200 day moving average price of $9.59. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.89.

Cushman & Wakefield (NYSE:CWK) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.39 by $0.06. Cushman & Wakefield had a net margin of 0.13% and a return on equity of 12.41%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business earned $0.46 earnings per share. Cushman & Wakefield’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Cushman & Wakefield will post 0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CWK. Raymond James downgraded shares of Cushman & Wakefield from a “strong-buy” rating to an “outperform” rating and set a $13.00 price target on the stock. in a report on Wednesday, April 3rd. Jefferies Financial Group initiated coverage on Cushman & Wakefield in a research note on Wednesday, April 10th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Wolfe Research reissued a “peer perform” rating on shares of Cushman & Wakefield in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.08.

Insider Activity

In other news, major shareholder Tpg Gp A, Llc sold 7,734,954 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $9.74, for a total transaction of $75,338,451.96. Following the completion of the sale, the insider now owns 17,098,001 shares in the company, valued at $166,534,529.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Cushman & Wakefield news, major shareholder Tpg Gp A, Llc sold 7,734,954 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $9.74, for a total value of $75,338,451.96. Following the transaction, the insider now directly owns 17,098,001 shares of the company’s stock, valued at approximately $166,534,529.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathaniel Robinson sold 40,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $9.99, for a total transaction of $399,600.00. Following the transaction, the insider now directly owns 40,427 shares of the company’s stock, valued at $403,865.73. The disclosure for this sale can be found here. Company insiders own 1.01% of the company’s stock.

Hedge Funds Weigh In On Cushman & Wakefield

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Cushman & Wakefield by 2.6% during the third quarter. Vanguard Group Inc. now owns 26,579,988 shares of the company’s stock worth $202,540,000 after purchasing an additional 665,070 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Cushman & Wakefield in the fourth quarter worth $908,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Cushman & Wakefield in the fourth quarter worth $8,742,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Cushman & Wakefield by 42.6% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 209,492 shares of the company’s stock worth $1,596,000 after acquiring an additional 62,624 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cushman & Wakefield during the third quarter valued at $1,820,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.