Ajo LP Buys New Holdings in Colliers International Group Inc. (CIGI)
Ajo LP bought a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 50,781 shares of the financial services provider’s stock, valued at approximately $2,867,000. Ajo LP owned about 0.13% of Colliers International Group as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently modified their holdings of CIGI. Nationwide Fund Advisors purchased a new position in Colliers International Group in the first quarter worth about $2,918,000. Russell Investments Group Ltd. purchased a new position in Colliers International Group in the first quarter worth about $590,000. Karp Capital Management Corp purchased a new position in Colliers International Group in the first quarter worth about $943,000. Parametric Portfolio Associates LLC raised its holdings in Colliers International Group by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock worth $475,000 after buying an additional 1,743 shares during the last quarter. Finally, Oxford Asset Management purchased a new position in Colliers International Group in the first quarter worth about $1,199,000. 63.51% of the stock is owned by institutional investors and hedge funds.
Colliers International Group Inc. (NASDAQ CIGI) opened at 49.50 on Monday. The stock has a market capitalization of $1.92 billion, a PE ratio of 29.91 and a beta of 1.74. Colliers International Group Inc. has a 12-month low of $34.20 and a 12-month high of $60.75. The stock’s 50 day moving average is $51.04 and its 200 day moving average is $51.53.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. The company had revenue of $544.20 million during the quarter, compared to analysts’ expectations of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. Colliers International Group’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Equities analysts anticipate that Colliers International Group Inc. will post $2.87 EPS for the current fiscal year.
Colliers International Group announced that its board has approved a share repurchase program on Thursday, July 13th that authorizes the company to repurchase 2,700,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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Several brokerages have issued reports on CIGI. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $75.00 target price (up from $59.00) on shares of Colliers International Group in a report on Wednesday, August 2nd. BidaskClub cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research cut shares of Colliers International Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. BMO Capital Markets lifted their target price on shares of Colliers International Group from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 target price (up from $58.00) on shares of Colliers International Group in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $65.70.
About Colliers International Group
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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