Summit Creek Advisors LLC Invests $7 Million in Colliers International Group Inc. $CIGI

Key Points

• Summit Creek Advisors acquired 49,232 Colliers shares worth approximately $7 million, making CIGI its 12th-largest holding and representing 2.4% of its portfolio. 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.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $157.56 price target, well above the stock’s recent price of $104.77 despite several target-price reductions.

Summit Creek Advisors LLC acquired a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 49,232 shares of the financial services provider's stock, valued at approximately $6,996,000. Colliers International Group makes up approximately 2.4% of Summit Creek Advisors LLC's holdings, making the stock its 12th biggest position. Summit Creek Advisors LLC owned 0.10% of Colliers International Group at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Colliers International Group in the third quarter worth $26,000. Arax Advisory Partners raised its position in Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 126 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Colliers International Group during the fourth quarter worth about $32,000. Trust Co. of Vermont bought a new stake in Colliers International Group during the second quarter worth about $36,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Colliers International Group in the 2nd quarter worth about $39,000. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Up 1.3%

Shares of NASDAQ:CIGI opened at $104.77 on Wednesday. The stock has a market capitalization of $5.35 billion, a P/E ratio of 49.89 and a beta of 1.24. The stock's 50-day moving average price is $97.93 and its 200-day moving average price is $105.47. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. 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 released its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.04. The company had revenue of $1.38 billion during 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 revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 EPS. On average, equities analysts anticipate that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Royal Bank Of Canada reduced their price objective on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 6th. BMO Capital Markets cut their target price on Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Scotia reduced their price target on shares of 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. Scotiabank decreased their price target on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Finally, Raymond James Financial lowered their price objective on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently 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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