Cushman & Wakefield PLC (NYSE:CWK) Short Interest Down 13.2% in June

Cushman & Wakefield PLC (NYSE:CWK) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 6,411,300 shares, a drop of 13.2% from the May 30th total of 7,382,800 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 6.2 days. Approximately 3.0% of the shares of the stock are sold short.

In other Cushman & Wakefield news, insider W Brett White sold 44,675 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $18.00, for a total value of $804,150.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.85% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley bought a new stake in shares of Cushman & Wakefield during the third quarter worth about $1,845,000. Rhumbline Advisers grew its holdings in shares of Cushman & Wakefield by 64.8% during the fourth quarter. Rhumbline Advisers now owns 60,325 shares of the company’s stock worth $873,000 after purchasing an additional 23,716 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Cushman & Wakefield during the fourth quarter worth about $2,610,000. New York State Common Retirement Fund bought a new stake in shares of Cushman & Wakefield during the fourth quarter worth about $664,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Cushman & Wakefield by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 127,217 shares of the company’s stock worth $1,840,000 after purchasing an additional 14,136 shares during the last quarter. 41.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CWK stock traded up $0.27 during trading on Friday, hitting $18.36. 263,194 shares of the stock traded hands, compared to its average volume of 877,120. The company has a market capitalization of $3.95 billion and a price-to-earnings ratio of -16.84. The company has a debt-to-equity ratio of 2.35, a current ratio of 1.15 and a quick ratio of 1.15. The firm’s fifty day moving average price is $17.79. Cushman & Wakefield has a 52-week low of $13.25 and a 52-week high of $19.79.

Cushman & Wakefield (NYSE:CWK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.93 billion. Cushman & Wakefield had a negative net margin of 1.43% and a positive return on equity of 10.36%. The business’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Cushman & Wakefield will post 0.71 earnings per share for the current year.

A number of research analysts have weighed in on the stock. Compass Point assumed coverage on shares of Jones Lang LaSalle in a research note on Wednesday. They issued a “buy” rating and a $180.00 target price on the stock. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.11.

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.

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