Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Colliers International Group Inc. (NASDAQ:CIGI)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 114.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 161,800 shares of the financial services provider’s stock after buying an additional 86,469 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Colliers International Group were worth $24,552,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Colliers International Group by 93.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 469 shares of the financial services provider’s stock valued at $52,000 after buying an additional 226 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Colliers International Group in the third quarter valued at about $112,000. Bayesian Capital Management LP acquired a new stake in shares of Colliers International Group during the 1st quarter valued at approximately $205,000. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Colliers International Group during the 3rd quarter worth approximately $264,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Stifel Nicolaus lifted their price target on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Finally, National Bankshares raised their price objective on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $142.04 on Thursday. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 45.24 and a beta of 1.50. Colliers International Group Inc. has a 12-month low of $101.01 and a 12-month high of $156.96. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. The company’s 50-day moving average is $149.29 and its two-hundred day moving average is $132.63.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 EPS. Research analysts expect that Colliers International Group Inc. will post 5.44 EPS for the current year.

Colliers International Group Profile

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.