Jupiter Topco LLC Takes Position in Colliers International Group Inc. $CIGI

Jupiter Topco LLC acquired a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,680,486 shares of the financial services provider’s stock, valued at approximately $238,809,000. Jupiter Topco LLC owned about 3.29% of Colliers International Group at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Bristol Gate Capital Partners Inc. acquired a new position in Colliers International Group during the 2nd quarter worth about $598,000. PDT Partners LLC bought a new position in shares of Colliers International Group during the 2nd quarter worth approximately $2,980,000. Canada Pension Plan Investment Board acquired a new stake in Colliers International Group in the second quarter worth $37,549,000. Osterweis Capital Management Inc. acquired a new stake in shares of Colliers International Group in the 2nd quarter valued at about $13,037,000. Finally, Legal & General Group Plc bought a new stake in shares of Colliers International Group during the second quarter valued at approximately $34,516,000. Institutional investors and hedge funds own 80.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CIGI shares. Weiss Ratings raised shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Raymond James Financial dropped their target price on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. BMO Capital Markets lowered their price target on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Finally, Scotiabank dropped their price objective on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $154.62.

Colliers International Group Price Performance

Colliers International Group stock opened at $104.52 on Thursday. Colliers International Group Inc. has a 52 week low of $88.38 and a 52 week high of $171.51. The company’s 50 day moving average price is $99.22 and its two-hundred day moving average price is $104.29. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. The stock has a market cap of $5.34 billion, a P/E ratio of 49.77 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.04. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.Colliers International Group’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 earnings per share. On average, equities analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.