Geode Capital Management LLC raised its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 20,840 shares of the financial services provider’s stock after purchasing an additional 4,214 shares during the period. Geode Capital Management LLC owned 0.05% of Colliers International Group worth $984,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nationwide Fund Advisors purchased a new stake in shares of Colliers International Group in the first quarter worth about $2,918,000. Russell Investments Group Ltd. purchased a new stake in shares of Colliers International Group in the first quarter worth about $590,000. Karp Capital Management Corp purchased a new stake in Colliers International Group during the first quarter valued at approximately $943,000. Parametric Portfolio Associates LLC raised its position in Colliers International Group by 21.0% during the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 1,743 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Colliers International Group during the first quarter valued at approximately $14,540,000. 63.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Colliers International Group Inc. (CIGI) traded down 0.50% during trading on Thursday, reaching $49.90. The company had a trading volume of 7,961 shares. The firm has a market capitalization of $1.94 billion, a PE ratio of 30.15 and a beta of 1.74. Colliers International Group Inc. has a 1-year low of $34.20 and a 1-year high of $60.75. The firm has a 50-day moving average of $51.50 and a 200 day moving average of $51.55.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The company had revenue of $544.20 million for the quarter, compared to the consensus estimate of $515.45 million. During the same period in the previous year, the firm earned $0.63 EPS. Colliers International Group’s revenue was up 12.8% on a year-over-year basis. Analysts expect that Colliers International Group Inc. will post $2.87 earnings per share for the current year.
Colliers International Group announced that its board has approved a share repurchase program on Thursday, July 13th that allows the company to repurchase 2,700,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have issued reports on CIGI shares. BidaskClub cut Colliers International Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada set a $58.00 price objective on Colliers International Group and gave the stock a “buy” rating in a research note on Monday, June 26th. Sidoti raised Colliers International Group from a “neutral” rating to a “buy” rating in a research report on Monday, August 14th. ValuEngine raised Colliers International Group from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $65.70.
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About Colliers International Group
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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