Short Interest in CBRE Group, Inc. (NYSE:CBRE) Rises By 8.6%

CBRE Group, Inc. (NYSE:CBRE) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 7,220,000 shares, an increase of 8.6% from the October 15th total of 6,650,000 shares. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is currently 4.4 days. Currently, 2.4% of the company’s shares are short sold.

Analysts Set New Price Targets

CBRE has been the topic of a number of research analyst reports. TheStreet lowered CBRE Group from a “b-” rating to a “c+” rating in a research report on Wednesday, October 18th. Citigroup reiterated a “buy” rating and set a $98.00 price objective on shares of CBRE Group in a report on Monday, September 18th. Evercore ISI cut their target price on CBRE Group from $94.00 to $91.00 and set an “outperform” rating on the stock in a research note on Monday, September 11th. StockNews.com initiated coverage on shares of CBRE Group in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods cut their price objective on shares of CBRE Group from $93.00 to $85.00 in a research report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.33.

Insider Transactions at CBRE Group

In related news, Director Brandon B. Boze sold 1,200,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $84.41, for a total value of $101,292,000.00. Following the transaction, the director now directly owns 4,637,748 shares in the company, valued at $391,472,308.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Brandon B. Boze sold 1,200,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $84.41, for a total value of $101,292,000.00. Following the sale, the director now directly owns 4,637,748 shares in the company, valued at approximately $391,472,308.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emma E. Giamartino sold 1,064 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $76.53, for a total transaction of $81,427.92. Following the transaction, the chief financial officer now owns 53,685 shares of the company’s stock, valued at approximately $4,108,513.05. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich boosted its position in CBRE Group by 98,156.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 220,922,882 shares of the financial services provider’s stock worth $17,830,686,000 after purchasing an additional 220,698,040 shares during the period. Norges Bank acquired a new position in CBRE Group in the 4th quarter valued at about $255,749,000. London Co. of Virginia bought a new position in CBRE Group in the 1st quarter valued at about $126,917,000. Harris Associates L P lifted its position in CBRE Group by 9.6% during the second quarter. Harris Associates L P now owns 14,735,255 shares of the financial services provider’s stock worth $1,189,282,000 after acquiring an additional 1,292,532 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of CBRE Group by 97.7% during the first quarter. Wellington Management Group LLP now owns 2,201,526 shares of the financial services provider’s stock worth $160,293,000 after acquiring an additional 1,087,893 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Up 0.1 %

Shares of NYSE:CBRE traded up $0.09 during trading on Friday, hitting $78.14. 1,845,023 shares of the company were exchanged, compared to its average volume of 1,693,761. CBRE Group has a fifty-two week low of $64.63 and a fifty-two week high of $89.58. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of 41.79 and a beta of 1.39. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33. The firm has a fifty day moving average price of $73.56 and a two-hundred day moving average price of $78.23.

CBRE Group (NYSE:CBRE) last issued its earnings results on Friday, October 27th. The financial services provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.07. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.50 billion. CBRE Group had a net margin of 1.89% and a return on equity of 13.88%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. As a group, research analysts anticipate that CBRE Group will post 3.7 earnings per share for the current fiscal year.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.