Quantbot Technologies LP Sells 6,432 Shares of Colliers International Group Inc. $CIGI

Key Points

• Quantbot Technologies LP reduced its stake in Colliers International Group Inc. by 48% during the first quarter, selling 6,432 shares, leaving it with a total of 6,977 shares valued at $846,000.
• Several institutional investors, including Durable Capital Partners LP and Vanguard Group Inc., have increased their positions in Colliers International Group, with institutional ownership now at 80.09%.
• Colliers reported earnings of $1.72 per share for the quarter, exceeding expectations, and experienced an 18.3% year-over-year revenue increase, amounting to $1.37 billion.

Quantbot Technologies LP lowered its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 48.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,977 shares of the financial services provider's stock after selling 6,432 shares during the period. Quantbot Technologies LP's holdings in Colliers International Group were worth $846,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CIGI. LPL Financial LLC boosted its stake in Colliers International Group by 53.3% during the fourth quarter. LPL Financial LLC now owns 2,723 shares of the financial services provider's stock worth $370,000 after buying an additional 947 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Colliers International Group by 5.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,855 shares of the financial services provider's stock worth $1,068,000 after buying an additional 398 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Colliers International Group during the fourth quarter worth $1,259,000. Marshall Wace LLP acquired a new stake in Colliers International Group during the fourth quarter worth $2,752,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Colliers International Group by 47.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 16,775 shares of the financial services provider's stock worth $2,212,000 after buying an additional 5,367 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

Colliers International Group Price Performance

Shares of NASDAQ CIGI traded down $0.22 during midday trading on Friday, reaching $165.35. 128,170 shares of the company traded hands, compared to its average volume of 151,570. The firm has a market cap of $8.18 billion, a PE ratio of 75.16 and a beta of 1.44. The stock's 50-day simple moving average is $146.64 and its 200-day simple moving average is $130.72. Colliers International Group Inc. has a 12 month low of $100.86 and a 12 month high of $170.65. 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 (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating 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 business posted $1.36 earnings per share. The firm's revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities analysts anticipate that Colliers International Group Inc. will post 6.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CIGI. 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. Scotiabank lifted their price objective 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. Citizens Jmp initiated coverage on Colliers International Group in a report on Monday, July 21st. They set a "market perform" rating for the company. Stifel Nicolaus lifted their price objective on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, CIBC lifted their price objective on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company 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.