The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cushman & Wakefield plc shares valued at $51,240 were purchased by MACKAY MICHELLE on Jun 13. At $14.64 per share, MACKAY MICHELLE acquired 3,500 shares. The insider’s holdings grew to 50,760 shares worth approximately $0.64 million following the completion of this transaction.
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Also, Robinson Nathaniel sold 15,231 shares, netting a total of over 267,761 in proceeds. Following the sale of shares at $17.58 each, the insider now holds 22,580 shares.
Before that, PAGAC Drone Holding GP I Ltd had sold 2,156,391 shares from its account. In a trade valued at $39,656,030, the 10% Owner traded Cushman & Wakefield plc shares for $18.39 each. Upon closing the transaction, the insider’s holdings decreased to 2,156,391 shares, worth approximately $324.04 million.
As published in their initiating research note from Goldman on April 05, 2022, Cushman & Wakefield plc [CWK] has been a Buy and the price target has been revised to $25. This represents a 49.6% premium over Thursday’s closing price. Analysts at Raymond James upgraded the stock from ‘”an Outperform”‘ to ‘”a Strong buy”‘ outlook in a report released in late November. As of June 15, 2021, Wolfe Research has initiated its “an Outperform” rating for CWK. Earlier on May 17, 2021, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for CWK stock which previously was a “a Neutral”.
Analyzing CWK’s Price Performance
On Thursday, Cushman & Wakefield plc [NYSE: CWK] plunged -2.55% to $12.60. The stock’s lowest price that day was $12.34, but it reached a high of $12.83 in the same session. During the last five days, there has been a drop of approximately -12.13%. Over the course of the year, Cushman & Wakefield plc shares have dropped approximately -43.35%. Shares of the company reached a 52-week high of $23.54 on 02/25/22 and a 52-week low of $12.34 on 09/22/22. A 50-day SMA is recorded $15.48, while a 200-day SMA reached $18.39. Nevertheless, trading volume fell to 1.83 million shares from 1.32 million shares the previous day.
Support And Resistance Levels for Cushman & Wakefield plc (CWK)
According to the 24-hour chart, there is a support level at 12.35, which, if violated, would cause prices to drop to 12.10. In the upper region, resistance lies at 12.84. The next price resistance is at 13.08. RSI (Relative Strength Index) is 26.70 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.31, which suggests the price will decrease in the coming days. Percent R is at 92.53%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Cushman & Wakefield plc subject to short interest?
Stocks of Cushman & Wakefield plc saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.56 million shares to 6.71 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.27 million shares. A decline of -23.25% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.65 of the overall float, the days-to-cover ratio (short ratio) decline to 6.65.
Which companies own the most shares of Cushman & Wakefield plc (CWK)?
According to Fidelity Management & Research Co filings, the company currently owns 29,735,710 shares, which is about 13.18% of the total CWK shares outstanding. The investor’s shares have appreciated by 286,872 from its previous 13-F filing of 29448838.0 shares. With the completion of the sale transaction, Pacific Alliance Investment Manag’s stake is now worth $384,733,426. The Vanguard Group, Inc. acquire a 3.42% interest valued at $326.83 million while Ontario Teachers’ Pension Plan Bo 0 stake. In its current portfolio, Harris Associates LP holds 8,625,822 shares valued at $129.04 million.
In spite of this, 10 analysts ranked Cushman & Wakefield plc stock as an Overweight at the end of 2022. On January 25, 2021, Goldman assigned a price target of “a Neutral” to the stock and initiated coverage with a $15.50.