Colliers International Group Inc. (CIGI) Position Lowered by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS reduced its position in shares of Colliers International Group Inc. (NASDAQ:CIGI) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 434,403 shares of the company’s stock after selling 35,525 shares during the period. Kornitzer Capital Management Inc. KS owned about 1.13% of Colliers International Group worth $14,831,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in CIGI. Legal & General Group Plc increased its position in Colliers International Group by 65.1% in the first quarter. Legal & General Group Plc now owns 2,789 shares of the company’s stock worth $106,000 after buying an additional 1,100 shares during the period. Geode Capital Management LLC raised its stake in shares of Colliers International Group by 14.3% in the first quarter. Geode Capital Management LLC now owns 15,065 shares of the company’s stock worth $570,000 after buying an additional 1,885 shares in the last quarter. 1st Global Advisors Inc. raised its stake in shares of Colliers International Group by 28.2% in the second quarter. 1st Global Advisors Inc. now owns 9,585 shares of the company’s stock worth $327,000 after buying an additional 2,109 shares in the last quarter. UBS Group AG raised its stake in shares of Colliers International Group by 69.2% in the first quarter. UBS Group AG now owns 20,061 shares of the company’s stock worth $760,000 after buying an additional 8,202 shares in the last quarter. Finally, K.J. Harrison & Partners Inc bought a new stake in shares of Colliers International Group during the second quarter worth approximately $339,000. 61.90% of the stock is currently owned by institutional investors.
Colliers International Group Inc. (NASDAQ:CIGI) traded down 0.75% during trading on Friday, hitting $40.87. The stock had a trading volume of 25,110 shares. Colliers International Group Inc. has a 1-year low of $30.76 and a 1-year high of $50.72. The stock’s 50-day moving average price is $41.94 and its 200-day moving average price is $39.53. The company has a market capitalization of $1.58 billion, a P/E ratio of 27.36 and a beta of 1.35.
Colliers International Group (NASDAQ:CIGI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. Colliers International Group had a net margin of 3.14% and a return on equity of 31.57%. The business earned $482.50 million during the quarter, compared to analyst estimates of $434.82 million. Colliers International Group’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts expect that Colliers International Group Inc. will post $2.51 earnings per share for the current year.
A number of analysts have commented on the company. Royal Bank Of Canada assumed coverage on Colliers International Group in a report on Wednesday, June 22nd. They set an “outperform” rating for the company. Zacks Investment Research raised Colliers International Group from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, August 16th. Finally, Scotiabank reissued an “outperform” rating and set a $59.00 price objective on shares of Colliers International Group in a report on Tuesday, October 4th.
In related news, major shareholder Spruce House Partnership Lp acquired 120,000 shares of the stock in a transaction on Thursday, September 15th. The stock was acquired at an average cost of $41.62 per share, for a total transaction of $4,994,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.30% of the stock is currently owned by company insiders.
About Colliers International Group
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company’s primary services are outsourcing and advisory services, lease brokerage and sales brokerage. The Company’s segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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