Kornitzer Capital Management Inc. KS Increases Position in Colliers International Group Inc. (NASDAQ:CIGI)

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,885 shares of the financial services provider’s stock after acquiring an additional 660 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Colliers International Group were worth $745,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. UBS Group AG increased its position in shares of Colliers International Group by 2.9% during the second quarter. UBS Group AG now owns 5,801 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 161 shares during the last quarter. Bank of Nova Scotia grew its stake in Colliers International Group by 7.2% in the third quarter. Bank of Nova Scotia now owns 2,796 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 187 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Colliers International Group by 8.3% in the first quarter. Great West Life Assurance Co. Can now owns 2,488 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 190 shares in the last quarter. Blair William & Co. IL grew its stake in Colliers International Group by 0.9% in the third quarter. Blair William & Co. IL now owns 26,437 shares of the financial services provider’s stock worth $2,518,000 after purchasing an additional 241 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Colliers International Group by 6.3% in the third quarter. Envestnet Asset Management Inc. now owns 4,547 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 271 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CIGI shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $150.00 price target on shares of Colliers International Group in a research note on Thursday, February 29th. Scotiabank decreased their price target on Colliers International Group from $140.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets lifted their price target on Colliers International Group from $129.00 to $137.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Raymond James lifted their price target on Colliers International Group from $140.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus lifted their target price on Colliers International Group from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $138.50.

Colliers International Group Stock Performance

CIGI opened at $106.22 on Monday. The business’s 50 day moving average is $119.08 and its 200-day moving average is $111.66. The stock has a market cap of $5.20 billion, a PE ratio of 80.47 and a beta of 1.46. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.76. Colliers International Group Inc. has a twelve month low of $83.38 and a twelve month high of $131.05.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.01). The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.20 billion. Colliers International Group had a net margin of 1.51% and a return on equity of 32.94%. On average, analysts predict that Colliers International Group Inc. will post 5.62 earnings per share for the current year.

About Colliers International Group

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.