Colliers International Group Inc. $CIGI Stake Reduced by Burgundy Asset Management Ltd.

Key Points

• Burgundy Asset Management Ltd. has reduced its holdings in Colliers International Group Inc. by 1.5%, selling 6,395 shares during the 1st quarter and now owning approximately 0.87% of the company valued at $51.87 million.
• Colliers International Group reported better than expected quarterly earnings of $1.72 per share, surpassing analysts' estimates by $0.20, with revenue increasing by 18.3% compared to the same period last year.
• Several analysts have increased their price targets for Colliers stock, with Royal Bank Of Canada raising the target from $175.00 to $185.00, indicating a consensus rating of "Moderate Buy" with a target price of $168.40.

Burgundy Asset Management Ltd. trimmed its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 428,201 shares of the financial services provider's stock after selling 6,395 shares during the period. Burgundy Asset Management Ltd. owned about 0.87% of Colliers International Group worth $51,872,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Durable Capital Partners LP boosted its stake in Colliers International Group by 4.0% during the 4th quarter. Durable Capital Partners LP now owns 2,644,327 shares of the financial services provider's stock valued at $359,549,000 after acquiring an additional 102,586 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Colliers International Group by 288.0% during the 4th quarter. Nuveen Asset Management LLC now owns 126,451 shares of the financial services provider's stock valued at $17,187,000 after acquiring an additional 93,864 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Colliers International Group by 89.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 139,930 shares of the financial services provider's stock valued at $19,026,000 after acquiring an additional 65,958 shares during the last quarter. Bank of America Corp DE boosted its stake in Colliers International Group by 102.5% during the 4th quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock valued at $12,678,000 after acquiring an additional 47,195 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Colliers International Group by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock valued at $230,558,000 after acquiring an additional 38,379 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of research analyst reports. CIBC increased their price objective on shares of Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Royal Bank Of Canada increased their price objective on shares of Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial increased their price objective on shares of Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Stifel Nicolaus boosted their price target on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, JMP Securities initiated coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $168.40.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI traded down $1.88 during trading on Wednesday, reaching $162.73. The stock had a trading volume of 135,740 shares, compared to its average volume of 134,622. Colliers International Group Inc. has a one year low of $100.86 and a one year high of $165.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $8.05 billion, a PE ratio of 73.97 and a beta of 1.44. The firm's 50 day moving average price is $140.68 and its two-hundred day moving average price is $129.14.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.20. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The business's quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 EPS. On average, research analysts forecast that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

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.