JB Capital Partners LP Buys Shares of 10,104 Colliers International Group Inc. $CIGI

Key Points

• JB Capital Partners LP initiated a position of 10,104 Colliers International Group shares in the second quarter, while institutional investors collectively own 80.09% of the company.
• Colliers reported quarterly EPS of $1.83, exceeding the $1.79 consensus estimate, although revenue of $1.38 billion fell short of expectations. Revenue still increased 16.7% year over year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $157.56, compared with the stock’s reported price of $107.06.

JB Capital Partners LP bought a new position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,104 shares of the financial services provider's stock, valued at approximately $1,435,879,000.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Colliers International Group in the 3rd quarter valued at about $26,000. Arax Advisory Partners raised its stake in shares of Colliers International Group by 137.0% during the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock worth $32,000 after acquiring an additional 126 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Colliers International Group during the 4th quarter worth approximately $32,000. Trust Co. of Vermont purchased a new stake in Colliers International Group during the second quarter valued at approximately $36,000. Finally, JPMorgan Chase & Co. purchased a new stake in Colliers International Group during the second quarter valued at approximately $39,000. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Stock Up 0.3%

NASDAQ:CIGI opened at $107.06 on Friday. The company has a market cap of $5.47 billion, a PE ratio of 50.98 and a beta of 1.24. Colliers International Group Inc. has a twelve month low of $88.38 and a twelve month high of $171.51. 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 is $98.54 and its two-hundred day moving average is $105.07.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.04. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company posted $1.72 earnings per share. Analysts anticipate that Colliers International Group Inc. will post 6.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. National Bank Financial lifted their price target 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. Weiss Ratings upgraded Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Royal Bank Of Canada lowered their price objective on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Scotia dropped their target price on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 31st. Finally, Raymond James Financial reduced their target price on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $157.56.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

Want to see what other hedge funds are holding CIGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source