Advisors Capital Management LLC bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 34,401 shares of the financial services provider's stock, valued at approximately $4,889,000. Advisors Capital Management LLC owned approximately 0.07% of Colliers International Group at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in Colliers International Group during the 3rd quarter worth approximately $26,000. Arax Advisory Partners increased its position in shares of Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after acquiring an additional 126 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Colliers International Group in the 4th quarter valued at $32,000. Trust Co. of Vermont acquired a new position in Colliers International Group in the 2nd quarter worth $36,000. Finally, JPMorgan Chase & Co. bought a new position in Colliers International Group during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 80.09% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Royal Bank Of Canada cut their price target on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. Scotiabank lowered their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. National Bank Financial raised their target price on shares of Colliers International Group from $109.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Scotia cut their price target on shares of Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 31st. Finally, BMO Capital Markets reduced their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.56.
Read Our Latest Stock Analysis on CIGI
Colliers International Group Stock Performance
CIGI opened at $106.70 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51. The business has a 50 day moving average of $98.34 and a 200-day moving average of $105.06. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of 50.81 and a beta of 1.24.
Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.04. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the firm earned $1.72 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that Colliers International Group Inc. will post 6.82 earnings per share for the current year.
Colliers International Group Profile
(
Free Report)
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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