Plato Investment Management Ltd Buys New Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Plato Investment Management Ltd purchased a new position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 738 shares of the financial services provider’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its stake in Colliers International Group by 33.9% during the first quarter. Russell Investments Group Ltd. now owns 16,473 shares of the financial services provider’s stock worth $2,015,000 after purchasing an additional 4,169 shares during the period. Blair William & Co. IL increased its position in shares of Colliers International Group by 13.6% during the first quarter. Blair William & Co. IL now owns 34,783 shares of the financial services provider’s stock worth $4,251,000 after acquiring an additional 4,170 shares during the period. Swiss National Bank boosted its holdings in Colliers International Group by 0.5% in the first quarter. Swiss National Bank now owns 82,200 shares of the financial services provider’s stock valued at $10,044,000 after purchasing an additional 400 shares during the period. Addenda Capital Inc. increased its holdings in Colliers International Group by 20.6% during the 2nd quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider’s stock worth $17,152,000 after purchasing an additional 26,263 shares during the period. Finally, Hantz Financial Services Inc. acquired a new stake in Colliers International Group in the 2nd quarter valued at about $567,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

NASDAQ CIGI opened at $144.55 on Friday. The firm has a market cap of $7.10 billion, a P/E ratio of 46.04 and a beta of 1.50. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96. The business’s 50-day moving average price is $149.22 and its 200 day moving average price is $131.65. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.42.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $1.10 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Colliers International Group Inc. will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CIGI shares. Scotiabank upped their target price on shares of Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. Stifel Nicolaus boosted their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Raymond James downgraded Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. Royal Bank of Canada boosted their target price on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.42.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.