Kornitzer Capital Management Inc. KS Lowers Stock Holdings in CBRE Group, Inc. $CBRE

Kornitzer Capital Management Inc. KS cut its holdings in CBRE Group, Inc. (NYSE:CBRE) by 14.4% in the third quarter, Holdings Channel reports. The institutional investor owned 59,674 shares of the financial services provider’s stock after selling 10,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in CBRE Group were worth $9,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC increased its holdings in CBRE Group by 264.4% in the 3rd quarter. ORG Partners LLC now owns 164 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of CBRE Group in the second quarter valued at about $30,000. Evelyn Partners Asset Management Ltd purchased a new stake in shares of CBRE Group during the second quarter worth about $32,000. NewSquare Capital LLC raised its position in shares of CBRE Group by 40.7% during the 2nd quarter. NewSquare Capital LLC now owns 235 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 68 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in CBRE Group by 67.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 350 shares of the financial services provider’s stock valued at $55,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 98.41% of the company’s stock.

CBRE Group Stock Up 0.6%

Shares of CBRE opened at $170.31 on Tuesday. CBRE Group, Inc. has a 52-week low of $108.45 and a 52-week high of $173.05. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $162.51 and a two-hundred day simple moving average of $158.22. The company has a market capitalization of $50.68 billion, a PE ratio of 42.05 and a beta of 1.34.

Analyst Upgrades and Downgrades

Several research firms have commented on CBRE. Keefe, Bruyette & Woods boosted their price objective on CBRE Group from $185.00 to $192.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Barclays lifted their price target on CBRE Group from $190.00 to $192.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 13th. UBS Group increased their price objective on CBRE Group from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Morgan Stanley lifted their target price on shares of CBRE Group from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of CBRE Group in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, CBRE Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.14.

About CBRE Group

CBRE Group, Inc is a global commercial real estate services and investment firm that provides a broad range of advisory, transactional and property-related services to occupiers, investors and owners. Its core activities include leasing and sales brokerage, facilities and property management, valuation and advisory, project and development services, and capital markets execution. The firm serves corporate occupiers, institutional investors, private owners and public entities across office, industrial, retail, multifamily and specialized property types.

In addition to traditional brokerage and management services, CBRE offers investment management capabilities and outsourced real estate solutions, combining market research, technology and data analytics to support portfolio strategy, transaction execution and asset operations.