Colliers International Group Inc. $CIGI Position Boosted by Fenimore Asset Management Inc

Fenimore Asset Management Inc increased its stake in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 264,147 shares of the financial services provider’s stock after acquiring an additional 18,627 shares during the quarter. Fenimore Asset Management Inc’s holdings in Colliers International Group were worth $23,720,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its stake in Colliers International Group by 5.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 126 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Colliers International Group during the second quarter valued at about $36,000. Global Retirement Partners LLC bought a new stake in shares of Colliers International Group in the second quarter worth about $44,000. Tacita Capital Inc bought a new stake in shares of Colliers International Group in the second quarter worth about $67,000. Finally, Empowered Funds LLC lifted its position in shares of Colliers International Group by 2.6% in the first quarter. Empowered Funds LLC now owns 23,042 shares of the financial services provider’s stock worth $2,463,000 after buying an additional 573 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 equities analysts have weighed in on the company. National Bank Financial raised their price target on Colliers International Group from $109.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, July 31st. BMO Capital Markets restated an “outperform” rating on shares of Colliers International Group in a research report on Thursday, September 24th. Scotia decreased their price target on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 31st. Scotiabank lowered their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.62.

Colliers International Group Trading Up 0.7%

Shares of CIGI traded up $0.56 during midday trading on Thursday, hitting $86.44. The stock had a trading volume of 228,616 shares, compared to its average volume of 294,822. The stock’s 50 day moving average is $97.30 and its 200 day moving average is $99.32. The firm has a market cap of $4.42 billion, a PE ratio of 41.16 and a beta of 1.23. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. Colliers International Group Inc. has a 1 year low of $83.70 and a 1 year 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 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 EPS. As a group, analysts forecast that Colliers International Group Inc. will post 6.92 EPS for the current fiscal year.

Colliers International Group Profile

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.