Traders Sell CBRE Group Inc. (CBG) on Strength (CBG)
Traders sold shares of CBRE Group Inc. (NYSE:CBG) on strength during trading on Thursday. $12.59 million flowed into the stock on the tick-up and $29.26 million flowed out of the stock on the tick-down, for a money net flow of $16.67 million out of the stock. Of all companies tracked, CBRE Group had the 0th highest net out-flow for the day. CBRE Group traded up $0.05 for the day and closed at $27.55
Several equities research analysts have recently issued reports on the company. TheStreet raised CBRE Group from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. Keefe, Bruyette & Woods assumed coverage on CBRE Group in a research note on Monday, May 16th. They issued a “market perform” rating and a $32.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.00.
The firm has a 50 day moving average of $28.22 and a 200 day moving average of $28.44. The firm has a market cap of $9.20 billion and a PE ratio of 17.34.
CBRE Group (NYSE:CBG) last posted its earnings results on Thursday, April 28th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. During the same period last year, the company earned $0.32 EPS. The business earned $2.85 billion during the quarter, compared to analysts’ expectations of $2.78 billion. The business’s quarterly revenue was up 38.7% compared to the same quarter last year. Analysts anticipate that CBRE Group Inc. will post $2.26 EPS for the current year.
In related news, COO Michael J. Lafitte sold 15,000 shares of the stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $31.04, for a total value of $465,600.00. Following the transaction, the chief operating officer now owns 369,612 shares of the company’s stock, valued at $11,472,756.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Kantor sold 10,980 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $29.17, for a total value of $320,286.60. Following the completion of the transaction, the director now directly owns 61,392 shares in the company, valued at approximately $1,790,804.64. The disclosure for this sale can be found here.
A number of institutional investors have bought and sold shares of CBG. Janus Capital Management raised its position in CBRE Group by 32.0% in the third quarter. Janus Capital Management now owns 5,523,284 shares of the company’s stock valued at $176,745,000 after buying an additional 1,339,747 shares during the period. TD Asset Management Inc. raised its position in CBRE Group by 4.0% in the fourth quarter. TD Asset Management Inc. now owns 131,186 shares of the company’s stock valued at $4,536,000 after buying an additional 5,000 shares during the period. California Public Employees Retirement System raised its position in CBRE Group by 1.1% in the fourth quarter. California Public Employees Retirement System now owns 808,500 shares of the company’s stock valued at $27,958,000 after buying an additional 8,500 shares during the period. Comerica Bank raised its position in CBRE Group by 2.2% in the fourth quarter. Comerica Bank now owns 91,608 shares of the company’s stock valued at $2,814,000 after buying an additional 1,943 shares during the period. Finally, Calamos Advisors LLC acquired a new position in CBRE Group during the fourth quarter valued at approximately $2,144,000.
CBRE Group, Inc is a holding company that conducts all of its operations through its indirect subsidiaries. The Company is a commercial real estate services and investment firm. The Company operates through the segments: Americas; Europe, Middle East and Africa; Asia Pacific; Global Investment Management, and Development Services.
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