CBRE Group Inc (NYSE:CBRE) Short Interest Update

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CBRE Group Inc (NYSE:CBRE) was the recipient of a large increase in short interest during the month of November. As of November 29th, there was short interest totalling 6,180,000 shares, an increase of 6.9% from the November 14th total of 5,780,000 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,520,000 shares, the days-to-cover ratio is currently 4.1 days.

Several research firms have recently issued reports on CBRE. ValuEngine cut CBRE Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Zacks Investment Research upgraded CBRE Group from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Thursday, November 28th. JPMorgan Chase & Co. began coverage on CBRE Group in a report on Tuesday, October 29th. They set an “overweight” rating on the stock. Finally, Bank of America began coverage on CBRE Group in a report on Tuesday, November 26th. They set a “buy” rating and a $62.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $60.20.

In other CBRE Group news, CEO Michael J. Lafitte sold 26,759 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.02, for a total transaction of $1,499,039.18. Following the sale, the chief executive officer now owns 335,364 shares in the company, valued at approximately $18,787,091.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James R. Groch sold 75,000 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $54.10, for a total value of $4,057,500.00. Following the sale, the insider now owns 318,000 shares in the company, valued at approximately $17,203,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,074 shares of company stock worth $8,281,123. 0.74% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of CBRE. Ropes Wealth Advisors LLC acquired a new position in CBRE Group in the third quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in CBRE Group in the second quarter valued at $30,000. Prime Capital Investment Advisors LLC acquired a new position in CBRE Group in the third quarter valued at $36,000. AdvisorNet Financial Inc boosted its holdings in CBRE Group by 461.5% in the third quarter. AdvisorNet Financial Inc now owns 730 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 600 shares during the last quarter. Finally, Rational Advisors LLC boosted its holdings in CBRE Group by 183.2% in the third quarter. Rational Advisors LLC now owns 824 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company’s stock.

Shares of CBRE stock traded down $0.70 during mid-day trading on Friday, hitting $58.26. 1,724,861 shares of the company’s stock were exchanged, compared to its average volume of 1,350,564. CBRE Group has a fifty-two week low of $37.45 and a fifty-two week high of $59.34. The stock has a 50-day simple moving average of $55.75 and a two-hundred day simple moving average of $52.64. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.50. The stock has a market cap of $19.50 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.42 and a beta of 1.68.

CBRE Group (NYSE:CBRE) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. CBRE Group had a return on equity of 23.24% and a net margin of 4.50%. The business had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. As a group, analysts anticipate that CBRE Group will post 3.74 earnings per share for the current fiscal year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management; and Development Services segments. The company offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing; integrated property sales, and mortgage and structured financing services under the CBRE Capital Markets brand; 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.

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