Kornitzer Capital Management Inc. KS Decreases Stake in Colliers International Group Inc. (NASDAQ:CIGI)

Kornitzer Capital Management Inc. KS reduced its position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,884 shares of the financial services provider’s stock after selling 1,376 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Colliers International Group were worth $800,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CIGI. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Colliers International Group by 26.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock worth $90,000 after buying an additional 124 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Colliers International Group during the third quarter worth approximately $112,000. Tobam increased its stake in Colliers International Group by 12.0% during the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 98 shares during the last quarter. Blue Trust Inc. increased its stake in Colliers International Group by 197.8% during the third quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 619 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Colliers International Group during the fourth quarter worth approximately $145,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Stock Up 0.7 %

Shares of NASDAQ CIGI opened at $131.95 on Thursday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 41.36 and a beta of 1.49. The stock has a 50 day moving average price of $137.23 and a 200 day moving average price of $143.32. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. Sell-side analysts expect that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Colliers International Group Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date was Tuesday, December 31st. This represents a dividend yield of 0.2%. Colliers International Group’s payout ratio is 9.40%.

Wall Street Analyst Weigh In

CIGI has been the topic of several analyst reports. Royal Bank of Canada boosted their price objective on Colliers International Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. initiated coverage on Colliers International Group in a research note on Monday, December 16th. They set a “neutral” rating and a $167.00 price objective on the stock. Raymond James reduced their price objective on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. National Bankshares reduced their price objective on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, BMO Capital Markets reduced their price objective on Colliers International Group from $177.00 to $172.00 and set a “market perform” rating on the stock in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.63.

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.