Colliers International Group Inc. (NASDAQ:CIGI) Holdings Raised by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp increased its stake in Colliers International Group by 154.1%, acquiring an additional 23,046 shares, which brought its total ownership to 38,003 shares valued at $4.61 million.
• Several institutional investors, including Durable Capital Partners and Vanguard Group, have also raised their stakes in Colliers International Group, highlighting strong institutional interest in the company.
• Colliers International Group reported earnings of $1.72 per share, surpassing analysts' expectations, with revenue reaching $1.37 billion, an 18.3% increase year-over-year.

King Luther Capital Management Corp lifted its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 154.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,003 shares of the financial services provider's stock after buying an additional 23,046 shares during the quarter. King Luther Capital Management Corp owned approximately 0.08% of Colliers International Group worth $4,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Entropy Technologies LP lifted its stake in Colliers International Group by 80.8% during the first quarter. Entropy Technologies LP now owns 4,700 shares of the financial services provider's stock worth $570,000 after purchasing an additional 2,100 shares during the last quarter. National Bank of Canada FI lifted its stake in Colliers International Group by 4.5% during the first quarter. National Bank of Canada FI now owns 96,676 shares of the financial services provider's stock worth $11,414,000 after purchasing an additional 4,195 shares during the last quarter. Deutsche Bank AG lifted its stake in Colliers International Group by 2.1% during the first quarter. Deutsche Bank AG now owns 42,681 shares of the financial services provider's stock worth $5,177,000 after purchasing an additional 896 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Colliers International Group by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 95,006 shares of the financial services provider's stock worth $11,496,000 after purchasing an additional 478 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Colliers International Group by 2.1% during the first quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider's stock worth $230,558,000 after purchasing an additional 38,379 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

Colliers International Group Stock Performance

Shares of CIGI traded up $0.67 during trading hours on Friday, reaching $162.80. 127,180 shares of the company's stock traded hands, compared to its average volume of 176,154. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $163.18. The business's fifty day simple moving average is $139.24 and its two-hundred day simple moving average is $128.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $8.06 billion, a price-to-earnings ratio of 74.00 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data 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. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The company's revenue was up 18.3% on a year-over-year basis. Analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on CIGI shares. Scotiabank raised their price objective on Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a research note on Friday, August 1st. Citizens Jmp started coverage on Colliers International Group in a research note on Monday, July 21st. They set a "market perform" rating on the stock. 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 raised their target price on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, JMP Securities assumed coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Six analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $168.40.

About Colliers International Group

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.