Vulcan Value Partners LLC Lowers Stock Holdings in Colliers International Group Inc. $CIGI

Vulcan Value Partners LLC reduced its holdings in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 17.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 211,910 shares of the financial services provider’s stock after selling 43,411 shares during the quarter. Colliers International Group makes up 0.6% of Vulcan Value Partners LLC’s portfolio, making the stock its 23rd biggest holding. Vulcan Value Partners LLC’s holdings in Colliers International Group were worth $19,875,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Colliers International Group during the 3rd quarter valued at about $26,000. Arax Advisory Partners lifted its holdings 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 worth $32,000 after acquiring an additional 126 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Colliers International Group in the fourth quarter worth approximately $32,000. Trust Co. of Vermont purchased a new stake in Colliers International Group in the second quarter valued at approximately $36,000. Finally, JPMorgan Chase & Co. purchased a new stake in Colliers International Group in the second quarter valued at approximately $39,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Trading Down 3.8%

Shares of CIGI stock traded down $3.72 during mid-day trading on Tuesday, reaching $95.30. The company’s stock had a trading volume of 338,019 shares, compared to its average volume of 297,526. The company’s 50 day simple moving average is $100.75 and its 200-day simple moving average is $102.80. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $4.87 billion, a PE ratio of 45.38 and a beta of 1.23.

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, topping analysts’ consensus estimates 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 firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $1.72 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. On average, research analysts predict that Colliers International Group Inc. will post 6.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CIGI has been the topic of a number of recent analyst reports. Scotia cut their price target on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings upgraded Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. National Bank Financial upped 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. Finally, Scotiabank cut their target price on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. One equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.62.

Colliers International Group Company 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.