Vulcan Value Partners LLC Cuts Stock Position in Colliers International Group Inc. $CIGI

Key Points

• Vulcan Value Partners reduced its Colliers International Group stake by 17% in the second quarter, selling 43,411 shares and retaining 211,910 shares valued at approximately $19.9 million.
• Institutional investors own about 80.1% of CIGI’s outstanding shares, with several other funds increasing their positions during recent quarters.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $154.62. Shares recently traded near $95.30 after the company beat quarterly EPS estimates but missed revenue expectations.

Vulcan Value Partners LLC cut its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,910 shares of the financial services provider's stock after selling 43,411 shares during the quarter. Colliers International Group accounts for approximately 0.6% of Vulcan Value Partners LLC's holdings, making the stock its 23rd biggest position. Vulcan Value Partners LLC owned approximately 0.41% of Colliers International Group worth $19,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after buying an additional 63 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Colliers International Group by 5.9% in the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 126 shares in the last quarter. Arax Advisory Partners boosted its holdings in shares of Colliers International Group by 137.0% in the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 126 shares in the last quarter. Versor Investments LP increased its stake in shares of Colliers International Group by 6.2% during the fourth quarter. Versor Investments LP now owns 2,415 shares of the financial services provider's stock worth $355,000 after acquiring an additional 142 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its holdings in Colliers International Group by 8.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,975 shares of the financial services provider's stock worth $290,000 after purchasing an additional 151 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank lowered their price objective on Colliers International Group from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Weiss Ratings raised Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Scotia decreased 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 note on Friday, July 31st. Finally, National Bank Financial increased their price objective on Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $154.62.

Colliers International Group Price Performance

Shares of CIGI traded down $3.72 during mid-day trading on Tuesday, reaching $95.30. 338,019 shares of the company's stock were exchanged, compared to its average volume of 297,526. 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 company has a 50-day simple moving average of $100.75 and a two-hundred day simple moving average of $102.80. Colliers International Group Inc. has a 52-week low of $88.38 and a 52-week high of $171.51. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 45.38 and a beta of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.04. The firm had revenue of $1.38 billion for 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 was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS. On average, sell-side analysts predict that Colliers International Group Inc. will post 6.92 EPS for the current fiscal year.

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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