market folly

Jeff Ubben's activist firm ValueAct Capital has been busy lately.  In an amended 13D filed with the SEC, ValueAct has disclosed that they now own 8.5% of CBRE Group (CBG) with 28.87 million shares.

This is down from the 34.37 million shares they owned at the end of the second quarter.  In their most recent activity, the filing notes they sold 5.5 million shares at $35.90 in a block trade on September 15th.

For more on this firm, yesterday we highlighted how ValueAct added to its KKR stake again.

Per Google Finance, CBRE Group "operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services. The Company provides commercial real estate services under the CBRE brand name, investment management services under the CBRE Global Investors brand name and development services under the Trammell Crow Company brand name. The Company's business is focused on commercial property, corporate facilities, project and transaction management, tenant/occupier and property/agency leasing, capital markets solutions (property sales, commercial mortgage brokerage, loan origination and servicing) real estate investment management, valuation, development services and proprietary research."