Canoe Financial LP Reduces Position in Colliers International Group Inc. (NASDAQ:CIGI)

Canoe Financial LP trimmed its stake in Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 85.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,312 shares of the financial services provider's stock after selling 37,265 shares during the quarter. Canoe Financial LP's holdings in Colliers International Group were worth $937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Colliers International Group by 33.9% in the 1st quarter. Russell Investments Group Ltd. now owns 16,473 shares of the financial services provider's stock worth $2,015,000 after purchasing an additional 4,169 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Colliers International Group by 13.6% during the first quarter. Blair William & Co. IL now owns 34,783 shares of the financial services provider's stock valued at $4,251,000 after buying an additional 4,170 shares during the last quarter. Swiss National Bank increased its position in shares of Colliers International Group by 0.5% during the first quarter. Swiss National Bank now owns 82,200 shares of the financial services provider's stock worth $10,044,000 after acquiring an additional 400 shares in the last quarter. Addenda Capital Inc. raised its holdings in shares of Colliers International Group by 20.6% in the 2nd quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider's stock worth $17,152,000 after acquiring an additional 26,263 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in Colliers International Group in the 2nd quarter valued at about $567,000. 80.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com lowered Colliers International Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. BMO Capital Markets increased their price target on Colliers International Group from $163.00 to $164.00 and gave the company an "outperform" rating in a research report on Friday, September 13th. National Bankshares lifted their price objective on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a "sector perform" rating in a report on Friday, August 2nd. Raymond James downgraded shares of Colliers International Group from a "strong-buy" rating to an "outperform" rating and increased their target price for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $158.33.

Colliers International Group Stock Performance

Shares of NASDAQ CIGI traded down $1.72 during mid-day trading on Monday, reaching $153.71. 90,939 shares of the company's stock were exchanged, compared to its average volume of 113,227. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 75.82 and a beta of 1.49. The firm has a 50-day moving average price of $146.70 and a two-hundred day moving average price of $127.57. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. Colliers International Group Inc. has a 52 week low of $83.38 and a 52 week high of $156.29.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.01). Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm's revenue was up 5.7% compared to the same quarter last year. Analysts predict that Colliers International Group Inc. will post 5.66 EPS for the current year.

Colliers International Group Profile

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.