CBRE Group COO Sells $899,798 in Stock (CBG)
CBRE Group (NYSE:CBG) COO Michael J. Lafitte sold 28,565 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $31.50, for a total value of $899,797.50. Following the transaction, the chief operating officer now directly owns 391,916 shares in the company, valued at approximately $12,345,354. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of CBRE Group (NYSE:CBG) traded down 0.38% on Thursday, hitting $31.78. 1,572,262 shares of the company’s stock traded hands. CBRE Group has a 1-year low of $21.38 and a 1-year high of $33.77. The stock’s 50-day moving average is $31.95 and its 200-day moving average is $29.23. The company has a market cap of $10.492 billion and a price-to-earnings ratio of 27.76.
CBRE Group (NYSE:CBG) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.36 earnings per share for the quarter, meeting the analysts’ 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.
A number of analysts have recently weighed in on CBG shares. 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 currently has an average rating of “Buy” and an average price target of $35.75.
CBRE Group, Inc is a holding company that conducts all of its operations through its indirect subsidiaries.
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