Summit Creek Advisors LLC Purchases New Stake in Colliers International Group Inc. $CIGI

Summit Creek Advisors LLC purchased a new stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 49,232 shares of the financial services provider’s stock, valued at approximately $6,996,000. Colliers International Group accounts for approximately 2.4% of Summit Creek Advisors LLC’s holdings, making the stock its 12th largest holding.

A number of other large investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Colliers International Group in the third quarter valued at about $26,000. Arax Advisory Partners boosted its holdings in shares of Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 126 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Colliers International Group in the fourth quarter worth about $32,000. Trust Co. of Vermont bought a new stake in shares of Colliers International Group in the second quarter worth about $36,000. Finally, JPMorgan Chase & Co. purchased a new position in Colliers International Group during the 2nd quarter valued at about $39,000. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

CIGI stock opened at $104.77 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. Colliers International Group Inc. has a 1 year low of $88.38 and a 1 year high of $171.51. The firm has a 50-day moving average of $97.93 and a 200 day moving average of $105.47. The company has a market cap of $5.35 billion, a P/E ratio of 49.89 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data 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 return on equity of 20.17% and a net margin of 1.81%.The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $1.72 EPS. The business’s revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts forecast that Colliers International Group Inc. will post 6.82 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada lowered their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings raised Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Scotia decreased their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 31st. Scotiabank dropped their price target on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, Raymond James Financial cut their price target on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and a consensus price target of $157.56.

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.