Pembroke Management LTD Lowers Position 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 cut its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 94.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,808 shares of the financial services provider's stock after selling 65,698 shares during the quarter. 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 also recently added to or reduced their stakes in CIGI. TCTC Holdings LLC lifted its holdings in Colliers International Group by 114.9% during the 1st quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock worth $26,000 after buying an additional 116 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Colliers International Group in the 1st quarter valued at $33,000. Tower Research Capital LLC TRC raised its holdings in shares of Colliers International Group by 1,752.9% in 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. State of Wyoming acquired a new stake in shares of Colliers International Group in the 1st quarter valued at $52,000. Finally, Central Pacific Bank Trust Division raised its holdings in shares of Colliers International Group by 10.0% in the 1st quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 100 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CIGI shares. Citizens Jmp started coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Stifel Nicolaus raised their price objective on shares of Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Raymond James Financial lifted their price target on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada lifted their price target on shares of Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $172.30.

Colliers International Group Stock Performance

Shares of NASDAQ:CIGI traded down $0.60 during midday trading on Wednesday, hitting $160.66. The stock had a trading volume of 51,337 shares, compared to its average volume of 134,154. The company has a market capitalization of $7.95 billion, a PE ratio of 73.09 and a beta of 1.41. The stock has a 50 day moving average price of $147.88 and a two-hundred day moving average price of $131.16. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. Colliers International Group Inc. has a 1 year low of $100.86 and a 1 year high of $170.65.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.20. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The business's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, equities analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

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.