Freestone Capital Holdings LLC Has $4.84 Million Holdings in Colliers International Group Inc. (CIGI)
Freestone Capital Holdings LLC boosted its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 7.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 85,643 shares of the financial services provider’s stock after purchasing an additional 5,653 shares during the period. Freestone Capital Holdings LLC owned approximately 0.22% of Colliers International Group worth $4,835,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in CIGI. Tower Research Capital LLC TRC grew its position in Colliers International Group by 60.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,485 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 1,311 shares during the period. State of Tennessee Treasury Department acquired a new stake in Colliers International Group during the 2nd quarter worth about $201,000. JPMorgan Chase & Co. acquired a new stake in Colliers International Group during the 1st quarter worth about $230,000. Atria Investments LLC acquired a new stake in Colliers International Group during the 2nd quarter worth about $230,000. Finally, UBS Group AG grew its position in Colliers International Group by 15.0% during the 1st quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 645 shares during the period. 63.51% of the stock is currently owned by institutional investors.
Shares of Colliers International Group Inc. (NASDAQ:CIGI) opened at 51.30 on Thursday. The stock’s 50 day moving average price is $51.87 and its 200-day moving average price is $51.45. The firm has a market capitalization of $1.99 billion, a PE ratio of 31.00 and a beta of 1.74. Colliers International Group Inc. has a 52-week low of $34.20 and a 52-week high of $60.75.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The business had revenue of $544.20 million for the quarter, compared to analyst estimates of $515.45 million. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Colliers International Group Inc. will post $2.87 EPS for the current fiscal year.
Colliers International Group declared that its Board of Directors has authorized a stock repurchase program on Thursday, July 13th that authorizes the company to buyback 2,700,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
CIGI has been the topic of several analyst reports. BidaskClub raised Colliers International Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Royal Bank Of Canada set a $58.00 price target on Colliers International Group and gave the stock a “buy” rating in a research report on Monday, June 26th. Zacks Investment Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Sidoti downgraded Colliers International Group from a “buy” rating to a “neutral” rating in a research report on Monday, July 17th. Finally, Scotiabank cut their price target on Colliers International Group from $76.00 to $75.50 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $65.70.
Colliers International Group Profile
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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