Pembroke Management LTD Has $462,000 Stake in Colliers International Group Inc. $CIGI

Key Points

• Pembroke Management LTD significantly reduced its stake in Colliers International Group by 94.5%, owning only 3,808 shares valued at $462,000 after selling 65,698 shares.
• Colliers International Group reported a strong quarterly earnings performance with an EPS of $1.72, exceeding analysts' expectations of $1.52, and revenue of $1.37 billion, which was above the expected $1.29 billion.
• Multiple analysts have raised their price targets for Colliers International Group, with Scotiabank increasing its target to $170.00 and Royal Bank of Canada to $185.00, indicating a generally positive outlook on the stock.

Pembroke Management LTD trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 94.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,808 shares of the financial services provider's stock after selling 65,698 shares during the period. Pembroke Management LTD's holdings in Colliers International Group were worth $462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CIGI. Raymond James Financial Inc. acquired a new stake in Colliers International Group during the 4th quarter valued at $1,259,000. First Trust Advisors LP acquired a new stake in Colliers International Group during the 4th quarter valued at $522,000. Tower Research Capital LLC TRC increased its holdings in Colliers International Group by 1,752.9% during 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 in the last quarter. Hsbc Holdings PLC acquired a new stake in Colliers International Group during the 4th quarter valued at $438,000. Finally, Bank of America Corp DE increased its holdings in Colliers International Group by 102.5% during 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 in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Stock Down 0.5%

NASDAQ CIGI opened at $165.57 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. Colliers International Group Inc. has a 52 week low of $100.86 and a 52 week high of $170.65. The stock has a fifty day moving average of $145.91 and a 200-day moving average of $130.50. The stock has a market capitalization of $8.19 billion, a P/E ratio of 75.26 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.20. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the firm earned $1.36 earnings per share. The firm's quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts forecast that Colliers International Group Inc. will post 6.2 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Scotiabank raised their price target on Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their target price on Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Raymond James Financial lifted their target price on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on Colliers International Group from $137.00 to $181.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, CIBC lifted their target price on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $172.30.

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.

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