CBRE Group, Inc. (NYSE:CBRE) Short Interest Down 5.8% in November

CBRE Group, Inc. (NYSE:CBRE) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 4,530,000 shares, a drop of 5.8% from the October 31st total of 4,810,000 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 1,780,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CBRE shares. Wolfe Research upgraded shares of CBRE Group to a “strong-buy” rating in a report on Friday, August 16th. Citigroup upped their target price on shares of CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Evercore ISI raised their price target on shares of CBRE Group from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Finally, Keefe, Bruyette & Woods increased their target price on CBRE Group from $125.00 to $138.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.00.

CBRE Group Stock Performance

Shares of CBRE opened at $138.39 on Tuesday. CBRE Group has a twelve month low of $80.59 and a twelve month high of $142.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.13 and a current ratio of 1.13. The firm’s 50 day moving average price is $129.13 and its two-hundred day moving average price is $110.92. The firm has a market cap of $42.35 billion, a P/E ratio of 44.50 and a beta of 1.39.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. CBRE Group had a net margin of 2.79% and a return on equity of 13.91%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that CBRE Group will post 4.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Emma E. Giamartino sold 1,815 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $131.34, for a total value of $238,382.10. Following the completion of the sale, the chief financial officer now directly owns 70,154 shares in the company, valued at approximately $9,214,026.36. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of CBRE Group

Hedge funds have recently added to or reduced their stakes in the company. Canton Hathaway LLC bought a new position in CBRE Group in the third quarter valued at approximately $27,000. American National Bank & Trust acquired a new stake in shares of CBRE Group in the 3rd quarter valued at $28,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of CBRE Group by 190.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 328 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 215 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth $32,000. Finally, Wolff Wiese Magana LLC lifted its position in shares of CBRE Group by 2,830.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 293 shares of the financial services provider’s stock worth $36,000 after buying an additional 283 shares during the last quarter. 98.41% of the stock is owned by institutional investors and hedge funds.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis 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.