Colliers International Group Inc. $CIGI Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lowered its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,569 shares of the financial services provider’s stock after selling 8,523 shares during the quarter. Montrusco Bolton Investments Inc. owned 0.24% of Colliers International Group worth $11,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cooper Investors PTY Ltd. boosted its position in shares of Colliers International Group by 16.4% during the third quarter. Cooper Investors PTY Ltd. now owns 40,276 shares of the financial services provider’s stock valued at $3,617,000 after buying an additional 5,666 shares during the last quarter. Burkett Asset Management Ltd raised its position in Colliers International Group by 2.0% in the 3rd quarter. Burkett Asset Management Ltd now owns 16,685 shares of the financial services provider’s stock worth $1,500,000 after buying an additional 330 shares during the last quarter. Fenimore Asset Management Inc raised its position in Colliers International Group by 7.6% in the 3rd quarter. Fenimore Asset Management Inc now owns 264,147 shares of the financial services provider’s stock worth $23,720,000 after buying an additional 18,627 shares during the last quarter. Tidal Investments LLC raised its position in Colliers International Group by 108.7% in the 2nd quarter. Tidal Investments LLC now owns 4,990 shares of the financial services provider’s stock worth $468,000 after buying an additional 2,599 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Colliers International Group by 21.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,728 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 480 shares during the period. 80.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of recent analyst reports. 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 report on Friday, July 31st. 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. BMO Capital Markets reissued an “outperform” rating on shares of Colliers International Group in a report on Thursday, September 24th. National Bank Financial increased their price objective on shares of Colliers International Group from $109.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Scotia lowered their price objective 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. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.62.

Colliers International Group Stock Performance

Shares of CIGI traded down $0.42 during trading hours on Tuesday, hitting $85.98. The stock had a trading volume of 279,324 shares, compared to its average volume of 293,254. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. Colliers International Group Inc. has a 12 month low of $83.70 and a 12 month high of $171.51. The firm has a market capitalization of $4.39 billion, a PE ratio of 40.94 and a beta of 1.23. The stock has a fifty day moving average price of $96.54 and a 200 day moving average price of $99.01.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. Colliers International Group’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts anticipate that Colliers International Group Inc. will post 6.92 EPS for the current year.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.