Durable Capital Partners LP Acquires 102,586 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Durable Capital Partners LP boosted its position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,644,327 shares of the financial services provider's stock after buying an additional 102,586 shares during the period. Colliers International Group makes up approximately 2.9% of Durable Capital Partners LP's investment portfolio, making the stock its 13th largest position. Durable Capital Partners LP owned about 5.37% of Colliers International Group worth $359,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Colliers International Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,866,793 shares of the financial services provider's stock valued at $253,867,000 after buying an additional 21,422 shares in the last quarter. FIL Ltd grew its position in Colliers International Group by 116.5% during the 4th quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider's stock worth $210,449,000 after acquiring an additional 832,583 shares during the last quarter. Franklin Resources Inc. grew its position in Colliers International Group by 100.8% during the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider's stock worth $102,261,000 after acquiring an additional 340,691 shares during the last quarter. Alberta Investment Management Corp raised its position in Colliers International Group by 3.4% in the fourth quarter. Alberta Investment Management Corp now owns 626,422 shares of the financial services provider's stock valued at $85,143,000 after purchasing an additional 20,794 shares during the last quarter. Finally, Norges Bank bought a new position in Colliers International Group in the fourth quarter valued at about $74,615,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Stock Up 4.1%

Shares of CIGI stock traded up $5.10 during trading hours on Monday, reaching $128.75. The company had a trading volume of 83,496 shares, compared to its average volume of 114,613. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 40.36 and a beta of 1.38. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.06 and a quick ratio of 1.06. Colliers International Group Inc. has a 12 month low of $100.86 and a 12 month high of $156.96. The business has a fifty day simple moving average of $118.83 and a 200-day simple moving average of $133.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.04). The firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.15 billion. Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. Colliers International Group's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, research analysts expect that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of recent research reports. Cibc World Mkts upgraded shares of Colliers International Group to a "strong-buy" rating in a report on Tuesday, March 4th. Colliers Securities set a $160.00 price target on Colliers International Group in a research report on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of Colliers International Group in a report on Friday, February 28th. National Bankshares cut their target price on Colliers International Group from $182.00 to $169.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Finally, Stifel Nicolaus dropped their price target on Colliers International Group from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.80.

Colliers International Group Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.