Traders Sell CBRE Group Inc. (CBG) on Strength (CBG)
Traders sold shares of CBRE Group Inc. (NYSE:CBG) on strength during trading hours 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
CBG has been the subject of several research reports. TheStreet upgraded CBRE Group from a “hold” rating to a “buy” rating in a research report on Monday, May 2nd. Keefe, Bruyette & Woods initiated coverage on CBRE Group in a research report on Monday, May 16th. They set a “market perform” rating and a $32.00 price objective for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. CBRE Group currently has an average rating of “Buy” and an average target price of $40.00.
The firm’s 50-day moving average is $28.16 and its 200 day moving average is $28.38. The firm has a market capitalization of $9.18 billion and a P/E ratio of 17.31.
CBRE Group (NYSE:CBG) last announced its quarterly 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. The firm earned $2.85 billion during the quarter, compared to analyst estimates of $2.78 billion. CBRE Group’s revenue for the quarter was up 38.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. Analysts anticipate that CBRE Group Inc. will post $2.26 earnings per share for the current fiscal year.
In other news, CFO James R. Groch sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 548,281 shares in the company, valued at $16,448,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Kantor sold 10,980 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $29.17, for a total transaction of $320,286.60. Following the completion of the transaction, the director now owns 61,392 shares of the company’s stock, valued at $1,790,804.64. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. I.G. Investment Management LTD. boosted its position in CBRE Group by 1.5% in the fourth quarter. I.G. Investment Management LTD. now owns 75,031 shares of the company’s stock valued at $2,595,000 after buying an additional 1,100 shares during the period. Eaton Vance Management boosted its position in CBRE Group by 1.3% in the fourth quarter. Eaton Vance Management now owns 92,545 shares of the company’s stock valued at $3,200,000 after buying an additional 1,200 shares during the period. Bank of Montreal Can boosted its position in CBRE Group by 0.7% in the fourth quarter. Bank of Montreal Can now owns 214,552 shares of the company’s stock valued at $7,418,000 after buying an additional 1,436 shares during the period. Comerica Bank boosted 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, GAM Holding AG boosted its position in CBRE Group by 1.0% in the fourth quarter. GAM Holding AG now owns 225,776 shares of the company’s stock valued at $7,807,000 after buying an additional 2,252 shares during the period.
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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