Colliers International Group Inc. $CIGI is Spruce House Investment Management LLC’s 3rd Largest Position

Spruce House Investment Management LLC lifted its stake in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 93.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,511,000 shares of the financial services provider’s stock after acquiring an additional 1,209,867 shares during the period. Colliers International Group accounts for 9.6% of Spruce House Investment Management LLC’s portfolio, making the stock its 3rd largest position. Spruce House Investment Management LLC’s holdings in Colliers International Group were worth $268,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Colliers International Group during the third quarter worth $26,000. Arax Advisory Partners lifted its stake in shares of Colliers International Group by 137.0% in the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 126 shares during the period. Kestra Advisory Services LLC purchased a new stake in shares of Colliers International Group in the fourth quarter valued at approximately $32,000. JPMorgan Chase & Co. acquired a new stake in Colliers International Group in the 2nd quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 63 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. BMO Capital Markets decreased their price target on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, National Bank Financial cut their price objective on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $159.11.

Colliers International Group Stock Performance

NASDAQ:CIGI opened at $97.49 on Monday. The company’s 50-day moving average price is $96.00 and its 200-day moving average price is $110.49. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. The company has a market cap of $4.98 billion, a P/E ratio of 60.18 and a beta of 1.26. Colliers International Group Inc. has a twelve month low of $88.38 and a twelve month high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.01). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. On average, sell-side analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were given a $0.15 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. Colliers International Group’s dividend payout ratio is 18.52%.

About Colliers International Group

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.