William Blair Investment Management LLC Buys New Shares in Colliers International Group Inc. $CIGI

William Blair Investment Management LLC bought a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the second quarter, Holdings Channel reports. The fund bought 310,952 shares of the financial services provider’s stock, valued at approximately $44,189,000.

Several other hedge funds have also recently added to or reduced their stakes in CIGI. Caitong International Asset Management Co. Ltd acquired a new position in Colliers International Group in the third quarter worth approximately $26,000. Arax Advisory Partners lifted its position in shares of Colliers International Group by 137.0% during the 4th 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 during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Colliers International Group during the 4th quarter valued at $32,000. Trust Co. of Vermont bought a new stake in shares of Colliers International Group during the 2nd quarter worth $36,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 80.09% of the company’s stock.

Analysts Set New Price Targets

CIGI has been the topic of a number of recent research reports. BMO Capital Markets decreased their target price on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Royal Bank Of Canada reduced their target price on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Scotiabank decreased their price target on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research 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. Finally, National Bank Financial boosted their price objective on Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a report 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Price Performance

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

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results 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 firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

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.