The Colliers International Group Inc. (CIGI) Position Lowered by Kornitzer Capital Management Inc. KS

The Colliers International Group Inc. (CIGI) Position Lowered by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in Colliers International Group Inc. (NASDAQ:CIGI) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 434,403 shares of the company’s stock after selling 35,525 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Colliers International Group were worth $14,831,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its position in Colliers International Group by 11.3% in the first quarter. Canada Pension Plan Investment Board now owns 191,500 shares of the company’s stock valued at $7,286,000 after buying an additional 19,400 shares during the last quarter. Bank of Montreal Can acquired a new position in Colliers International Group during the second quarter valued at about $15,480,000. Renaissance Technologies LLC raised its position in Colliers International Group by 5.9% in the first quarter. Renaissance Technologies LLC now owns 662,000 shares of the company’s stock valued at $25,063,000 after buying an additional 36,648 shares during the last quarter. BloombergSen Inc. raised its position in Colliers International Group by 50.8% in the second quarter. BloombergSen Inc. now owns 1,615,628 shares of the company’s stock valued at $55,158,000 after buying an additional 544,128 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Colliers International Group by 602.8% in the first quarter. Royal Bank of Canada now owns 547,356 shares of the company’s stock valued at $20,723,000 after buying an additional 469,471 shares during the last quarter. Institutional investors and hedge funds own 61.90% of the company’s stock.

Colliers International Group Inc. (NASDAQ:CIGI) traded down 0.75% during midday trading on Friday, reaching $40.87. 25,110 shares of the company’s stock were exchanged. Colliers International Group Inc. has a 12-month low of $30.76 and a 12-month high of $50.72. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 27.36 and a beta of 1.35. The stock’s 50-day moving average is $41.94 and its 200-day moving average is $39.53.

Colliers International Group (NASDAQ:CIGI) last issued its earnings results on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. The business had revenue of $482.50 million for the quarter, compared to the consensus estimate of $434.82 million. Colliers International Group had a net margin of 3.14% and a return on equity of 31.57%. Colliers International Group’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities analysts forecast that Colliers International Group Inc. will post $2.51 earnings per share for the current year.

Several equities research analysts recently weighed in on CIGI shares. Zacks Investment Research downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 27th. Scotiabank reissued an “outperform” rating and set a $59.00 price target on shares of Colliers International Group in a research report on Tuesday, October 4th. Finally, Royal Bank Of Canada started coverage on shares of Colliers International Group in a research report on Wednesday, June 22nd. They set an “outperform” rating for the company.

In related news, major shareholder Spruce House Partnership Lp bought 120,000 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were 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 filing with the SEC, which is available through this link. 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.

Related posts

Leave a Comment