464,391 Shares of Colliers International Group Inc. $CIGI Purchased by William Blair Investment Management LLC

Key Points

• William Blair Investment Management initiated a position in Colliers International Group, buying 464,391 shares worth about $41.7 million, or 0.91% of the company. Institutional investors collectively own 80.09% of its stock.
• Colliers reported quarterly EPS of $1.97, beating the $1.94 consensus, while revenue rose 11.9% year over year to $1.60 billion but fell short of the $1.67 billion estimate.
• Analysts’ consensus rating is Moderate Buy, with a $140.71 average price target. Shares recently traded at $90.01, well below their 52-week high of $150.78.

William Blair Investment Management LLC acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 464,391 shares of the financial services provider's stock, valued at approximately $41,702,000. William Blair Investment Management LLC owned 0.91% of Colliers International Group as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA raised its stake in shares of Colliers International Group by 1.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 8,117 shares of the financial services provider's stock worth $729,000 after buying an additional 137 shares in the last quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd boosted its stake in shares of Colliers International Group by 5.3% in the third quarter. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd now owns 57,665 shares of the financial services provider's stock valued at $5,178,000 after buying an additional 2,900 shares in the last quarter. Compass Ion Advisors LLC boosted its stake in shares of Colliers International Group by 4.4% in the third quarter. Compass Ion Advisors LLC now owns 2,747 shares of the financial services provider's stock valued at $247,000 after buying an additional 116 shares in the last quarter. Louisbourg Investments Inc. grew its holdings in Colliers International Group by 9.1% during the third quarter. Louisbourg Investments Inc. now owns 94,813 shares of the financial services provider's stock worth $8,525,000 after acquiring an additional 7,881 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in Colliers International Group during the third quarter worth $599,000. Hedge funds and other institutional investors own 80.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CIGI. Scotia cut their price target on shares of Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating for the company in a report on Friday, July 31st. Scotiabank reduced their price objective on Colliers International Group from $145.00 to $130.00 and set a "sector outperform" rating for the company in a report on Wednesday, October 28th. BMO Capital Markets reiterated an "outperform" rating on shares of Colliers International Group in a research report on Thursday, September 24th. Raymond James Financial decreased their target price on Colliers International Group from $160.00 to $150.00 and set a "strong-buy" rating on the stock in a research report on Thursday, November 5th. Finally, National Bank Financial upped their target price on Colliers International Group from $109.00 to $122.00 and gave the company an "outperform" rating in a report on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.71.

Colliers International Group Price Performance

CIGI stock traded up $1.36 on Friday, reaching $90.01. The company had a trading volume of 99,321 shares, compared to its average volume of 230,125. The company's fifty day moving average is $92.06 and its 200 day moving average is $102.28. The company has a market cap of $4.60 billion, a P/E ratio of 63.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.19 and a current ratio of 1.18. Colliers International Group Inc. has a 1 year low of $83.21 and a 1 year high of $150.78.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.03. Colliers International Group had a return on equity of 21.28% and a net margin of 1.18%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business posted $1.64 earnings per share. Colliers International Group's revenue was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Colliers International Group Inc. will post 6.89 earnings per share for the current year.

Colliers International Group Company Profile

Colliers International Group Inc. is a global professional services and investment management company focused on commercial real estate and the built environment. Its services include property leasing and sales, property and facilities management, valuation and advisory, and real estate project management. The company also provides engineering and consulting services for infrastructure, buildings, and related projects, along with investment management for real estate and other property-related strategies.

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