Quantbot Technologies LP Reduces Holdings in Colliers International Group Inc. (NASDAQ:CIGI)

Quantbot Technologies LP trimmed its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 34.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,568 shares of the financial services provider’s stock after selling 2,419 shares during the quarter. Quantbot Technologies LP’s holdings in Colliers International Group were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Colliers International Group by 26.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 124 shares in the last quarter. King Luther Capital Management Corp increased its stake in Colliers International Group by 1.2% in the 3rd quarter. King Luther Capital Management Corp now owns 14,639 shares of the financial services provider’s stock worth $2,222,000 after buying an additional 178 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Colliers International Group by 2.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,055 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 238 shares during the period. Whittier Trust Co. raised its holdings in Colliers International Group by 8.4% during the third quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 277 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Colliers International Group by 3,377.8% in the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 304 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CIGI shares. BMO Capital Markets upped their price target on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Scotiabank boosted their price target on shares of Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their target price on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.42.

Colliers International Group Trading Down 1.3 %

Shares of NASDAQ:CIGI opened at $151.62 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. Colliers International Group Inc. has a 52-week low of $101.01 and a 52-week high of $156.96. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 48.29 and a beta of 1.50. The business has a 50-day moving average price of $149.93 and a 200-day moving average price of $134.88.

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