William Blair Investment Management LLC Invests $44.19 Million in Colliers International Group Inc. $CIGI

Key Points

• William Blair Investment Management purchased 310,952 Colliers International Group shares worth approximately $44.19 million, giving it a 0.61% stake. Institutional investors collectively own 80.09% of the company.
• Colliers reported quarterly adjusted earnings of $1.83 per share, exceeding estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion forecast.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $157.56, despite several recent target-price reductions.

William Blair Investment Management LLC purchased a new position in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 310,952 shares of the financial services provider's stock, valued at approximately $44,189,000. William Blair Investment Management LLC owned about 0.61% of Colliers International Group at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in Colliers International Group by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock worth $15,698,000 after buying an additional 56,755 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Colliers International Group by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider's stock valued at $5,508,000 after buying an additional 505 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Colliers International Group in the second quarter valued at $39,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Colliers International Group by 190.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider's stock valued at $1,055,000 after acquiring an additional 5,286 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Colliers International Group by 0.5% during the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider's stock valued at $37,232,000 after acquiring an additional 1,470 shares during the period. Institutional investors own 80.09% of the company's stock.

Colliers International Group Stock Up 0.3%

Shares of CIGI stock opened at $107.06 on Friday. Colliers International Group Inc. has a 1 year low of $88.38 and a 1 year high of $171.51. The stock has a market cap of $5.47 billion, a PE ratio of 50.98 and a beta of 1.24. The business's fifty day moving average is $98.54 and its 200-day moving average is $105.07. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.04. The business 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%.The company's revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. Equities analysts expect that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CIGI. Raymond James Financial dropped their price objective on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. BMO Capital Markets reduced their target price on shares of 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. Royal Bank Of Canada reduced their target price on shares of Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Finally, Scotiabank dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Colliers International Group has a consensus rating of "Moderate Buy" and an average target price of $157.56.

About Colliers International Group

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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