Colliers International Group Inc. $CIGI Holdings Increased by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management increased its Colliers stake by 7.6% in the third quarter, adding 18,627 shares to hold 264,147 shares valued at approximately $23.7 million. Institutional investors collectively own 80.09% of CIGI.
• Colliers reported quarterly earnings of $1.83 per share, beating estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of expectations.
• The stock recently traded at $86.44, near its 52-week low, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus rating and an average price target of $154.62.

Fenimore Asset Management Inc lifted its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,147 shares of the financial services provider's stock after purchasing an additional 18,627 shares during the quarter. Fenimore Asset Management Inc owned 0.52% of Colliers International Group worth $23,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC raised its position in Colliers International Group by 108.7% in the 2nd quarter. Tidal Investments LLC now owns 4,990 shares of the financial services provider's stock worth $468,000 after buying an additional 2,599 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Colliers International Group by 21.4% during the second quarter. NewEdge Advisors LLC now owns 2,728 shares of the financial services provider's stock valued at $256,000 after purchasing an additional 480 shares during the last quarter. Nykredit A S purchased a new stake in Colliers International Group in the second quarter worth approximately $84,000. TD Waterhouse Canada Inc. grew its position in Colliers International Group by 7.2% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 136,823 shares of the financial services provider's stock worth $13,822,000 after purchasing an additional 9,230 shares during the period. Finally, Addenda Capital Inc. grew its position in Colliers International Group by 0.5% in the 2nd quarter. Addenda Capital Inc. now owns 167,188 shares of the financial services provider's stock worth $15,681,000 after purchasing an additional 900 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

Shares of CIGI traded up $0.56 during trading hours on Thursday, reaching $86.44. 228,616 shares of the stock traded hands, compared to its average volume of 294,822. The company has a market cap of $4.42 billion, a P/E ratio of 41.16 and a beta of 1.23. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The company's 50-day moving average price is $97.30 and its two-hundred day moving average price is $99.32. Colliers International Group Inc. has a 52-week low of $83.70 and a 52-week high of $171.51.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating 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 analysts' expectations of $1.48 billion. During the same period last year, the firm earned $1.72 earnings per share. The business's quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts anticipate that Colliers International Group Inc. will post 6.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CIGI shares. Weiss Ratings raised Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Scotiabank reduced their price objective on Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. BMO Capital Markets reissued an "outperform" rating on shares of Colliers International Group in a report on Thursday, September 24th. Scotia cut their price target on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating for the company in a research note on Friday, July 31st. Finally, National Bank Financial raised their price objective on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $154.62.

Colliers International Group Profile

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.

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