Quantbot Technologies LP Acquires Shares of 18,124 Colliers International Group Inc. $CIGI

Quantbot Technologies LP bought a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,124 shares of the financial services provider’s stock, valued at approximately $2,576,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CIGI. Spruce House Investment Management LLC increased its stake in shares of Colliers International Group by 93.0% in the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after acquiring an additional 1,209,867 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its stake in Colliers International Group by 100.9% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock worth $174,611,000 after acquiring an additional 820,315 shares in the last quarter. Durable Capital Partners LP grew its holdings in Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after purchasing an additional 652,744 shares during the period. Norges Bank purchased a new stake in Colliers International Group in the fourth quarter worth about $84,906,000. Finally, Bank of Montreal Can increased its stake in shares of Colliers International Group by 69.0% during the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock valued at $158,274,000 after purchasing an additional 439,607 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Scotiabank cut their price target on 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. Royal Bank Of Canada lowered their price objective on 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. National Bank Financial boosted their target price on Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Raymond James Financial dropped their target price on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Finally, BMO Capital Markets cut their target price on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI opened at $107.06 on Monday. The firm’s 50 day moving average price is $98.54 and its 200-day moving average price is $104.85. Colliers International Group Inc. has a 52-week low of $88.38 and a 52-week high of $171.51. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $5.47 billion, a PE ratio of 50.98 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results 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. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group 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.