Addenda Capital Inc. Increases Holdings in Colliers International Group Inc. $CIGI

Key Points

• Addenda Capital increased its holding in Colliers by 8.6% in Q4 to 169,640 shares (about $24.94M), equal to roughly 0.34% of the company.
• Institutional investors own about 80.09% of Colliers, with several funds recently initiating or modestly adding to positions.
• Analysts' consensus is a "Moderate Buy" with an average price target of $168.29, compared with the stock trading near $110, though some firms have recently cut targets.

Addenda Capital Inc. boosted its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,640 shares of the financial services provider's stock after purchasing an additional 13,453 shares during the period. Addenda Capital Inc. owned about 0.34% of Colliers International Group worth $24,939,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Colliers International Group during the 3rd quarter valued at about $26,000. JPMorgan Chase & Co. purchased a new position in shares of Colliers International Group during the 2nd quarter worth approximately $39,000. EverSource Wealth Advisors LLC grew its stake in shares of Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after buying an additional 63 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Colliers International Group by 17.1% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock worth $79,000 after buying an additional 74 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Colliers International Group in the 2nd quarter worth approximately $96,000. Hedge funds and other institutional investors own 80.09% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on CIGI. Stifel Nicolaus set a $175.00 price target on Colliers International Group in a research note on Friday, March 13th. Zacks Research upgraded Colliers International Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Colliers International Group in a research note on Wednesday, January 21st. Scotiabank cut their price target on Colliers International Group from $185.00 to $155.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 17th. Finally, National Bank Financial cut their price target on Colliers International Group from $160.00 to $143.00 and set an "outperform" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $168.29.

Colliers International Group Stock Performance

CIGI stock opened at $110.42 on Thursday. The stock has a market capitalization of $5.64 billion, a PE ratio of 54.94 and a beta of 1.45. Colliers International Group Inc. has a 12-month low of $95.66 and a 12-month high of $171.51. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06. The stock's 50 day simple moving average is $115.61 and its 200 day simple moving average is $137.65.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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