CBRE Group Director Sells $610,000 in Stock (CBG)
CBRE Group (NYSE:CBG) Director Frederic V. Malek unloaded 20,000 shares of CBRE Group stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $30.50, for a total value of $610,000.00. Following the completion of the transaction, the director now directly owns 253,874 shares in the company, valued at approximately $7,743,157. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of CBRE Group (NYSE:CBG) traded up 1.18% on Monday, hitting $30.86. 1,441,400 shares of the company’s stock traded hands. CBRE Group has a one year low of $21.24 and a one year high of $33.77. The stock has a 50-day moving average of $32.08 and a 200-day moving average of $28.99. The company has a market cap of $10.188 billion and a P/E ratio of 26.54.
CBRE Group (NYSE:CBG) last announced its earnings results on Tuesday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts predict that CBRE Group will post $1.69 earnings per share for the current fiscal year.
CBG has been the subject of a number of recent research reports. Analysts at JMP Securities raised their price target on shares of CBRE Group from $34.00 to $37.00 in a research note on Thursday, July 31st. Separately, analysts at Jefferies Group reiterated a “market outperform” rating on shares of CBRE Group in a research note on Wednesday, July 30th. They now have a $37.00 price target on the stock, up previously from $34.00. Finally, analysts at Barclays raised their price target on shares of CBRE Group from $30.00 to $33.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Four equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $35.75.
CBRE Group, Inc is a holding company that conducts all of its operations through its indirect subsidiaries.
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