Cornerstone Investment Partners LLC Takes $252,000 Position in Colliers International Group Inc. (NASDAQ:CIGI)

Cornerstone Investment Partners LLC purchased a new stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,991 shares of the financial services provider’s stock, valued at approximately $252,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tobam acquired a new position in Colliers International Group during the 4th quarter worth $58,000. Qube Research & Technologies Ltd bought a new position in shares of Colliers International Group in the 3rd quarter worth $48,000. Power Corp of Canada acquired a new stake in shares of Colliers International Group in the 1st quarter valued at about $72,000. Citigroup Inc. bought a new position in Colliers International Group during the first quarter worth about $75,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group during the first quarter worth approximately $123,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CIGI has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on Colliers International Group from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets boosted their price target on shares of Colliers International Group from $129.00 to $137.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. National Bankshares downgraded shares of Colliers International Group from an “outperform” rating to a “sector perform” rating and set a $125.00 price objective for the company. in a report on Thursday, January 4th. Royal Bank of Canada restated an “outperform” rating and set a $150.00 price target on shares of Colliers International Group in a research report on Thursday, February 29th. Finally, Scotiabank cut their price objective on Colliers International Group from $140.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.50.

Colliers International Group Trading Down 0.1 %

Shares of CIGI stock traded down $0.14 during trading on Friday, hitting $106.80. 35,737 shares of the stock traded hands, compared to its average volume of 111,576. Colliers International Group Inc. has a 52-week low of $83.38 and a 52-week high of $131.05. The firm’s fifty day moving average price is $119.40 and its 200-day moving average price is $111.32. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $5.21 billion, a P/E ratio of 81.53 and a beta of 1.46.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.01). The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Colliers International Group had a net margin of 1.51% and a return on equity of 32.94%. As a group, research analysts forecast that Colliers International Group Inc. will post 5.62 earnings per share for the current fiscal year.

About Colliers International Group

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.