MQS Management LLC Buys New Stake in Colliers International Group Inc. (NASDAQ:CIGI)

MQS Management LLC purchased a new position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,343 shares of the financial services provider's stock, valued at approximately $527,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Durable Capital Partners LP lifted its stake in Colliers International Group by 4.0% in the fourth quarter. Durable Capital Partners LP now owns 2,644,327 shares of the financial services provider's stock worth $359,549,000 after purchasing an additional 102,586 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Colliers International Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,866,793 shares of the financial services provider's stock valued at $253,867,000 after acquiring an additional 21,422 shares during the period. FIL Ltd increased its stake in Colliers International Group by 116.5% in the fourth quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider's stock worth $210,449,000 after purchasing an additional 832,583 shares during the period. Norges Bank bought a new stake in shares of Colliers International Group during the fourth quarter worth $74,615,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Colliers International Group by 1.3% during the fourth quarter. Renaissance Technologies LLC now owns 531,100 shares of the financial services provider's stock valued at $72,214,000 after purchasing an additional 7,000 shares during the period. Institutional investors own 80.09% of the company's stock.

Colliers International Group Stock Down 0.1%

Shares of CIGI stock opened at $134.53 on Monday. The stock's fifty day moving average price is $126.70 and its 200 day moving average price is $126.81. Colliers International Group Inc. has a 1-year low of $100.86 and a 1-year high of $156.96. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 47.20 and a beta of 1.39. 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 (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.04). The business had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.15 billion. Colliers International Group had a return on equity of 20.20% and a net margin of 2.92%. Colliers International Group's revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 EPS. On average, research analysts expect that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Colliers International Group Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a $0.15 dividend. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 0.2%. Colliers International Group's dividend payout ratio is currently 10.53%.

Wall Street Analysts Forecast Growth

CIGI has been the topic of several recent research reports. Scotiabank dropped their target price on shares of Colliers International Group from $165.00 to $155.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on shares of Colliers International Group from $165.00 to $145.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Wall Street Zen downgraded shares of Colliers International Group from a "buy" rating to a "hold" rating in a research note on Thursday, March 20th. Finally, Stifel Nicolaus dropped their target price on Colliers International Group from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $160.80.

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.

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