Royce & Associates LP cut its position in Colliers International Group Inc. (NASDAQ:CIGI) by 30.7% during the second quarter, Holdings Channel reports. The firm owned 22,600 shares of the company’s stock after selling 10,000 shares during the period. Royce & Associates LP owned about 0.06% of Colliers International Group worth $772,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Colliers International Group during the fourth quarter valued at $14,184,000. Mckinley Capital Management LLC Delaware raised its stake in Colliers International Group by 9,542.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 13,500 shares of the company’s stock valued at $664,000 after buying an additional 13,360 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Colliers International Group by 7.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 22,415 shares of the company’s stock valued at $849,000 after buying an additional 1,635 shares during the last quarter. Tobam raised its stake in Colliers International Group by 20.9% in the first quarter. Tobam now owns 98,945 shares of the company’s stock valued at $3,764,000 after buying an additional 17,100 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Colliers International Group by 11.3% in the first quarter. Canada Pension Plan Investment Board now owns 191,500 shares of the company’s stock valued at $7,286,000 after buying an additional 19,400 shares during the last quarter. 61.90% of the stock is currently owned by institutional investors.

Shares of Colliers International Group Inc. (NASDAQ:CIGI) traded down 0.90% during midday trading on Tuesday, reaching $41.76. 10,610 shares of the company traded hands. Colliers International Group Inc. has a 1-year low of $30.76 and a 1-year high of $50.72. The company has a market capitalization of $1.61 billion, a PE ratio of 27.95 and a beta of 1.48. The company has a 50 day moving average price of $42.69 and a 200 day moving average price of $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 (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The company earned $482.50 million during the quarter, compared to analysts’ expectations of $434.82 million. Colliers International Group had a net margin of 3.14% and a return on equity of 31.57%. Colliers International Group’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, analysts expect that Colliers International Group Inc. will post $2.52 earnings per share for the current year.

Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Colliers International Group from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Tuesday, August 16th. Royal Bank Of Canada started coverage on shares of Colliers International Group in a research note on Wednesday, June 22nd. They issued an “outperform” rating for the company.

In related news, major shareholder Spruce House Partnership Lp acquired 266,288 shares of the stock in a transaction on Friday, July 8th. The stock was bought at an average cost of $34.60 per share, with a total value of $9,213,564.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.30% of the stock is currently owned by company insiders.

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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