Versor Investments LP Cuts Stock Holdings in Colliers International Group Inc. $CIGI

Key Points

• Versor Investments LP has reduced its holdings in Colliers International Group Inc. by 53.7%, owning 1,743 shares valued at $211,000 after selling 2,024 shares in the first quarter.
• Analysts show a positive outlook, with multiple firms increasing their price targets for Colliers, including CIBC raising it to $175.00 and Scotiabank to $170.00, with an overall consensus target price of $168.40.
• Colliers International Group reported a net revenue increase of 18.3% year-over-year, achieving $1.37 billion and surpassing analysts' estimates.

Versor Investments LP cut its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 53.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,743 shares of the financial services provider's stock after selling 2,024 shares during the quarter. Versor Investments LP's holdings in Colliers International Group were worth $211,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CIGI. MQS Management LLC purchased a new position in shares of Colliers International Group in the 1st quarter valued at approximately $527,000. Millennium Management LLC purchased a new stake in Colliers International Group during the 4th quarter worth approximately $3,587,000. Massachusetts Financial Services Co. MA increased its stake in Colliers International Group by 4.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock valued at $12,869,000 after purchasing an additional 4,153 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Colliers International Group by 1.1% in the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock worth $84,548,000 after buying an additional 7,815 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Colliers International Group by 102.5% during the fourth quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock worth $12,678,000 after buying an additional 47,195 shares during the period. Hedge funds and other institutional investors own 80.09% of the company's stock.

Wall Street Analysts Forecast Growth

CIGI has been the topic of several research reports. CIBC upped their target price on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. National Bankshares increased their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Royal Bank Of Canada raised their price objective on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial lifted their target price on Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Scotiabank increased their price target on shares of Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $172.30.

Colliers International Group Price Performance

CIGI stock traded down $0.31 during mid-day trading on Thursday, reaching $166.06. 18,133 shares of the company's stock were exchanged, compared to its average volume of 134,078. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group Inc. has a 12-month low of $100.86 and a 12-month high of $170.65. The stock's 50 day moving average is $145.18 and its 200 day moving average is $130.29. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 75.49 and a beta of 1.44.

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