Cubist Systematic Strategies LLC Has $1.72 Million Stake in Colliers International Group Inc. $CIGI

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Colliers International Group Inc. by 447.1% in the 1st quarter, now holding shares worth approximately $1.72 million.
• Colliers International Group reported a quarterly earnings per share of $1.72, surpassing estimates, with total revenue of $1.37 billion, marking an 18.3% year-over-year increase.
• Multiple brokerages have raised their target prices for Colliers, with JPMorgan Chase & Co. increasing their target from $137.00 to $181.00, reflecting a general consensus rating of "Moderate Buy."

Cubist Systematic Strategies LLC raised its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 447.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,207 shares of the financial services provider's stock after acquiring an additional 11,610 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Colliers International Group were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC lifted its holdings in Colliers International Group by 114.9% in the 1st quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Colliers International Group in the first quarter worth approximately $33,000. Tower Research Capital LLC TRC grew its position in Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after buying an additional 298 shares during the last quarter. State of Wyoming acquired a new position in Colliers International Group in the first quarter worth approximately $52,000. Finally, Central Pacific Bank Trust Division grew its position in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after buying an additional 100 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CIGI. Raymond James Financial lifted their price target on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Stifel Nicolaus lifted their price target on shares of Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. CIBC boosted their price objective on Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. National Bankshares boosted their price objective on Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, Scotiabank boosted their price objective on 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 equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.30.

Colliers International Group Stock Down 0.9%

Shares of CIGI traded down $1.46 during trading hours on Friday, reaching $166.83. The company's stock had a trading volume of 79,861 shares, compared to its average volume of 117,886. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 75.83 and a beta of 1.41. Colliers International Group Inc. has a 1-year low of $100.86 and a 1-year high of $170.65. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $153.44 and a two-hundred day moving average of $133.19.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its 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 company had revenue of $1.37 billion for 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 firm's quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. As a group, research analysts predict that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

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.