Osterweis Capital Management Inc. Buys New Shares in Colliers International Group Inc. $CIGI

Key Points

• Osterweis Capital Management initiated a position in Colliers International Group by purchasing 91,739 shares worth approximately $13.0 million, representing about 0.18% of the company. Institutional investors collectively own 80.09% of CIGI.
• Colliers reported quarterly EPS of $1.83, exceeding analyst expectations of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion consensus estimate.
• Analysts maintain a generally positive outlook, with one Strong Buy, seven Buy and three Hold ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $157.56, compared with a recent price of $107.86.

Osterweis Capital Management Inc. bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 91,739 shares of the financial services provider's stock, valued at approximately $13,037,000. Osterweis Capital Management Inc. owned about 0.18% of Colliers International Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CIGI. Caitong International Asset Management Co. Ltd acquired a new stake in Colliers International Group in the third quarter valued at $26,000. Arax Advisory Partners grew its position in shares of Colliers International Group by 137.0% in the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 126 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Colliers International Group during the 4th quarter worth about $32,000. Trust Co. of Vermont acquired a new position in shares of Colliers International Group during the 2nd quarter worth about $36,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group in the 2nd quarter valued at about $39,000. 80.09% of the stock is owned by institutional investors.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $107.86 on Tuesday. The stock has a market capitalization of $5.51 billion, a PE ratio of 51.36 and a beta of 1.24. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. The business has a fifty day moving average price of $98.79 and a two-hundred day moving average price of $104.71. Colliers International Group Inc. has a fifty-two week low of $88.38 and a fifty-two week high of $171.51.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.Colliers International Group's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 EPS. As a group, equities analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James Financial cut their target price on shares of Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. National Bank Financial boosted their price target on Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Royal Bank Of Canada dropped their price objective on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 6th. Scotiabank cut their price objective on Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Finally, Scotia reduced their target price on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating for the company in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.56.

Colliers International Group Company 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.

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