CBRE Group, Inc. (NYSE:CBRE) Short Interest Up 5.7% in November

CBRE Group, Inc. (NYSE:CBRE) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 4,790,000 shares, a growth of 5.7% from the November 15th total of 4,530,000 shares. Currently, 1.6% of the company’s shares are sold short. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their target price on CBRE Group from $125.00 to $138.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group initiated coverage on CBRE Group in a research report on Friday, December 6th. They issued a “buy” rating and a $176.00 target price on the stock. Evercore ISI lifted 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. JPMorgan Chase & Co. raised shares of CBRE Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $163.00 in a research report on Monday. Finally, Citigroup lifted their price target on CBRE Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.33.

CBRE Group Price Performance

NYSE CBRE opened at $137.93 on Tuesday. The company has a 50-day moving average price of $132.06 and a two-hundred day moving average price of $114.38. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 44.35 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.34. CBRE Group has a 52 week low of $82.75 and a 52 week high of $142.00.

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

Insider Transactions at CBRE Group

In other news, CFO Emma E. Giamartino sold 1,815 shares of the stock in a transaction dated Friday, November 15th. The stock was 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 owns 70,154 shares in the company, valued at approximately $9,214,026.36. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Institutional Trading of CBRE Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CBRE. FMR LLC raised its stake in shares of CBRE Group by 85.6% in the 3rd quarter. FMR LLC now owns 7,587,042 shares of the financial services provider’s stock worth $944,435,000 after buying an additional 3,498,244 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in CBRE Group by 60.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,645,569 shares of the financial services provider’s stock worth $329,320,000 after acquiring an additional 993,963 shares during the period. State Street Corp grew its holdings in CBRE Group by 5.4% during the third quarter. State Street Corp now owns 13,433,513 shares of the financial services provider’s stock worth $1,672,204,000 after acquiring an additional 692,697 shares during the period. Eminence Capital LP raised its position in CBRE Group by 42.6% in the second quarter. Eminence Capital LP now owns 1,518,203 shares of the financial services provider’s stock worth $135,287,000 after acquiring an additional 453,406 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in CBRE Group in the 2nd quarter valued at about $36,820,000. 98.41% of the stock is currently owned by institutional investors.

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.