CBRE Group, Inc. (NYSE:CBRE) Sees Significant Growth in Short Interest

CBRE Group, Inc. (NYSE:CBREGet Free Report) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 5,510,000 shares, an increase of 10.4% from the February 29th total of 4,990,000 shares. Approximately 1.8% of the company’s stock are sold short. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 3.4 days.

CBRE Group Stock Down 0.7 %

Shares of CBRE Group stock opened at $94.35 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.17 and a quick ratio of 1.17. The company has a 50-day moving average of $90.96 and a 200 day moving average of $83.40. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 29.76 and a beta of 1.42. CBRE Group has a 1 year low of $64.63 and a 1 year high of $98.65.

CBRE Group (NYSE:CBREGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.17. The company had revenue of $8.95 billion during the quarter, compared to analyst estimates of $8.44 billion. CBRE Group had a net margin of 3.09% and a return on equity of 13.69%. CBRE Group’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. As a group, sell-side analysts anticipate that CBRE Group will post 4.55 earnings per share for the current fiscal year.

Insider Buying and Selling at CBRE Group

In other news, CEO John E. Durburg sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the completion of the sale, the chief executive officer now directly owns 207,856 shares of the company’s stock, valued at $19,164,323.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Chandra Dhandapani sold 11,925 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $94.03, for a total transaction of $1,121,307.75. Following the transaction, the chief executive officer now directly owns 127,064 shares in the company, valued at $11,947,827.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John E. Durburg sold 25,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $92.20, for a total transaction of $2,305,000.00. Following the completion of the transaction, the chief executive officer now owns 207,856 shares in the company, valued at $19,164,323.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,592 shares of company stock valued at $3,675,752. Corporate insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in CBRE Group during the 4th quarter valued at about $381,164,000. Wellington Management Group LLP raised its holdings in shares of CBRE Group by 164.1% during the fourth quarter. Wellington Management Group LLP now owns 4,505,177 shares of the financial services provider’s stock valued at $419,387,000 after purchasing an additional 2,799,097 shares during the last quarter. Viking Global Investors LP raised its holdings in shares of CBRE Group by 52.1% during the fourth quarter. Viking Global Investors LP now owns 3,809,555 shares of the financial services provider’s stock valued at $354,631,000 after purchasing an additional 1,304,756 shares during the last quarter. Harris Associates L P raised its holdings in shares of CBRE Group by 9.6% during the second quarter. Harris Associates L P now owns 14,735,255 shares of the financial services provider’s stock valued at $1,189,282,000 after purchasing an additional 1,292,532 shares during the last quarter. Finally, Parnassus Investments LLC purchased a new position in shares of CBRE Group during the fourth quarter valued at approximately $104,277,000. 98.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBRE. Evercore ISI boosted their target price on shares of CBRE Group from $103.00 to $104.00 and gave the company an “in-line” rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of CBRE Group from $96.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. TheStreet raised shares of CBRE Group from a “c+” rating to a “b-” rating in a report on Thursday, January 25th. Raymond James increased their price target on shares of CBRE Group from $95.00 to $103.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. Finally, StockNews.com raised shares of CBRE Group from a “hold” rating to a “buy” rating in a report on Monday, February 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.67.

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About CBRE Group

(Get Free Report)

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.

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