Colliers International Group Inc. (CIGI) Major Shareholder Spruce House Partnership Lp Buys 120,000 Shares
Colliers International Group Inc. (NASDAQ:CIGI) major shareholder Spruce House Partnership Lp acquired 120,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was purchased at an average cost of $41.62 per share, with a total value of $4,994,400.00. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Spruce House Partnership Lp also recently made the following trade(s):
- On Friday, July 8th, Spruce House Partnership Lp bought 266,288 shares of Colliers International Group stock. The shares were bought at an average cost of $34.60 per share, with a total value of $9,213,564.80.
Shares of Colliers International Group Inc. (NASDAQ:CIGI) opened at 42.14 on Tuesday. The company has a market cap of $1.63 billion, a P/E ratio of 28.21 and a beta of 1.48. Colliers International Group Inc. has a one year low of $30.76 and a one year high of $50.72. The company’s 50 day moving average is $42.69 and its 200 day moving average is $38.79.
Colliers International Group (NASDAQ:CIGI) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Colliers International Group had a net margin of 3.14% and a return on equity of 31.57%. The firm had revenue of $482.50 million for the quarter, compared to the consensus estimate of $434.82 million. The business’s revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that Colliers International Group Inc. will post $2.52 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Colliers International Group by 65.1% in the first quarter. Legal & General Group Plc now owns 2,789 shares of the company’s stock valued at $106,000 after buying an additional 1,100 shares during the last quarter. Acrospire Investment Management LLC increased its position in Colliers International Group by 141.9% in the second quarter. Acrospire Investment Management LLC now owns 3,594 shares of the company’s stock valued at $123,000 after buying an additional 2,108 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Colliers International Group during the second quarter valued at $214,000. Parametric Portfolio Associates LLC acquired a new position in Colliers International Group during the second quarter valued at $214,000. Finally, A.R.T. Advisors LLC acquired a new position in Colliers International Group during the second quarter valued at $262,000. Hedge funds and other institutional investors own 61.90% of the company’s stock.
Several analysts recently commented on CIGI shares. Royal Bank Of Canada started coverage on shares of Colliers International Group in a report on Wednesday, June 15th. They set an “outperform” rating and a $52.00 target price for the company. Zacks Investment Research downgraded shares of Colliers International Group from a “hold” rating to a “sell” rating in a report on Friday, July 1st.
About Colliers International Group
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company’s primary services are outsourcing and advisory services, lease brokerage and sales brokerage. The Company’s segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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