Renaissance Technologies LLC Sells 11,400 Shares of Colliers International Group Inc. (NASDAQ:CIGI)

Renaissance Technologies LLC cut its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 538,300 shares of the financial services provider’s stock after selling 11,400 shares during the quarter. Renaissance Technologies LLC owned approximately 1.10% of Colliers International Group worth $60,101,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Colliers International Group by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 309,260 shares of the financial services provider’s stock worth $34,527,000 after acquiring an additional 13,678 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Colliers International Group by 8.3% in the second quarter. William Blair Investment Management LLC now owns 125,302 shares of the financial services provider’s stock worth $13,990,000 after purchasing an additional 9,603 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Colliers International Group by 5.9% during the second quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after purchasing an additional 41,225 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Colliers International Group by 2.1% in the second quarter. National Bank of Canada FI now owns 69,729 shares of the financial services provider’s stock valued at $7,514,000 after buying an additional 1,465 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Colliers International Group by 1.0% in the second quarter. TD Asset Management Inc now owns 204,915 shares of the financial services provider’s stock valued at $22,878,000 after buying an additional 2,044 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Scotiabank raised their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday, August 2nd. National Bankshares boosted 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 report on Friday, August 2nd. StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, BMO Capital Markets upped their price target on Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Colliers International Group Stock Performance

CIGI stock opened at $144.87 on Wednesday. Colliers International Group Inc. has a twelve month low of $83.38 and a twelve month high of $148.99. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a market cap of $7.09 billion, a P/E ratio of 70.34 and a beta of 1.49. The business’s fifty day moving average is $136.37 and its 200-day moving average is $121.44.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. Colliers International Group’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. Equities research analysts forecast that Colliers International Group Inc. will post 5.51 EPS for the current 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.