PDT Partners LLC Invests $2.98 Million in Colliers International Group Inc. $CIGI

Key Points

• PDT Partners acquired a new 20,969-share stake in Colliers International Group during the second quarter, valued at approximately $2.98 million. Institutional investors collectively own 80.09% of the company.
• Colliers reported quarterly EPS of $1.83, beating estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion consensus forecast.
• Analysts maintain a generally positive outlook, with the stock rated “Moderate Buy” and an average price target of $154.62 versus its reported price of $104.52.

PDT Partners LLC acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20,969 shares of the financial services provider's stock, valued at approximately $2,980,000.

A number of other institutional investors have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new position in Colliers International Group in the third quarter valued at $26,000. Arax Advisory Partners boosted 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 buying an additional 126 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Colliers International Group in the 4th quarter valued at about $32,000. Trust Co. of Vermont bought a new position in shares of Colliers International Group in the 2nd quarter valued at about $36,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Colliers International Group in the second quarter valued at about $39,000. Institutional investors own 80.09% of the company's stock.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $104.52 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. The stock's 50 day moving average price is $99.22 and its two-hundred day moving average price is $104.29. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 49.77 and a beta of 1.24. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51.

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

Analysts Set New Price Targets

Several research analysts recently commented on CIGI shares. Weiss Ratings raised Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Scotia lowered their price target on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 31st. Raymond James Financial dropped their price objective on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. 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 report on Friday, July 31st. Finally, National Bank Financial raised their target price on shares of Colliers International Group from $109.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Colliers International Group presently has an average rating of "Moderate Buy" and an average target price of $154.62.

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.

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