Colliers International Group Inc. $CIGI Shares Acquired by Durable Capital Partners LP

Key Points

• Durable Capital Partners LP increased its stake in Colliers International Group by 12.4%, owning approximately 6.03% of the company valued at $360.6 million after acquiring 328,430 shares.
• Several analysts have raised their target prices for Colliers International Group, with ranges going from $180.00 to $185.00, indicating a positive outlook for the stock.
• Colliers International Group reported $1.72 EPS for the last quarter, surpassing analyst expectations by $0.20, and achieved revenue growth of 18.3% year-over-year.

Durable Capital Partners LP grew its holdings in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,972,757 shares of the financial services provider's stock after acquiring an additional 328,430 shares during the period. Colliers International Group comprises 3.2% of Durable Capital Partners LP's holdings, making the stock its 10th biggest position. Durable Capital Partners LP owned about 6.03% of Colliers International Group worth $360,595,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CIGI. Raymond James Financial Inc. acquired a new position in shares of Colliers International Group in the 4th quarter valued at $1,259,000. First Trust Advisors LP acquired a new position in shares of Colliers International Group in the 4th quarter valued at $522,000. Tower Research Capital LLC TRC lifted its stake in shares of Colliers International Group by 1,752.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 298 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Colliers International Group in the 4th quarter valued at $438,000. Finally, Bank of America Corp DE lifted its stake in shares of Colliers International Group by 102.5% in 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 purchasing an additional 47,195 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CIGI has been the subject of several analyst reports. Citizens Jmp initiated coverage on shares of Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. JPMorgan Chase & Co. boosted their target price on shares of Colliers International Group from $137.00 to $181.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. CIBC boosted their target price 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. Raymond James Financial upped their price objective 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. Finally, Scotiabank upped their price objective on shares of Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average price target of $172.30.

Colliers International Group Price Performance

NASDAQ:CIGI traded up $0.44 during trading hours on Friday, reaching $165.86. 109,574 shares of the company were exchanged, compared to its average volume of 136,664. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock's 50-day moving average is $149.94 and its 200-day moving average is $131.84. The firm has a market cap of $8.21 billion, a PE ratio of 75.39 and a beta of 1.41. Colliers International Group Inc. has a twelve month low of $100.86 and a twelve month high of $170.65.

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 EPS 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 analysts' expectations of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.36 earnings per share. On average, sell-side analysts anticipate 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.