JB Capital Partners LP Invests $1.44 Billion in Colliers International Group Inc. $CIGI

JB Capital Partners LP purchased a new position in Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,104 shares of the financial services provider’s stock, valued at approximately $1,435,879,000.

A number of other institutional investors also recently bought and sold shares of CIGI. Goldman Sachs Group Inc. lifted its stake in Colliers International Group by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider’s stock valued at $15,698,000 after acquiring an additional 56,755 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Colliers International Group by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider’s stock worth $5,508,000 after acquiring an additional 505 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Colliers International Group during the second quarter worth $39,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Colliers International Group by 190.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider’s stock worth $1,055,000 after purchasing an additional 5,286 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Colliers International Group by 0.5% during the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider’s stock valued at $37,232,000 after purchasing an additional 1,470 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Stock Performance

Shares of CIGI stock opened at $107.06 on Friday. The company has a market capitalization of $5.47 billion, a P/E ratio of 50.98 and a beta of 1.24. The business’s 50 day moving average is $98.54 and its two-hundred day moving average is $105.07. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. Colliers International Group Inc. has a 12-month low of $88.38 and a 12-month high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company earned $1.72 EPS. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets lowered 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 report on Wednesday, May 6th. National Bank Financial boosted their price objective on Colliers International Group from $109.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Scotiabank lowered their target price on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Raymond James Financial lowered their target price on Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada reduced their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Company Profile

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.