Colliers International Group Inc. (NASDAQ:CIGI) Shares Sold by Covestor Ltd

Covestor Ltd reduced its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 620 shares of the financial services provider’s stock after selling 331 shares during the quarter. Covestor Ltd’s holdings in Colliers International Group were worth $94,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after buying an additional 304 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Colliers International Group by 93.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 469 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 226 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Colliers International Group during the 1st quarter valued at about $205,000. Motco acquired a new position in shares of Colliers International Group in the 1st quarter worth approximately $237,000. Finally, Stonegate Investment Group LLC bought a new stake in shares of Colliers International Group in the 3rd quarter worth approximately $264,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Stifel Nicolaus boosted their target price on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. National Bankshares increased their price target on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Scotiabank boosted their price objective on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Colliers International Group Trading Down 0.6 %

Shares of NASDAQ CIGI opened at $149.50 on Wednesday. The firm has a market capitalization of $7.34 billion, a PE ratio of 47.61 and a beta of 1.50. Colliers International Group Inc. has a one year low of $94.98 and a one year high of $156.96. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.42. The business has a 50-day moving average price of $148.83 and a two-hundred day moving average price of $131.16.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 EPS 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 company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts predict that Colliers International Group Inc. will post 5.63 earnings per share for the current fiscal year.

About Colliers International Group

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.