Turtle Creek Asset Management Inc., a financial services provider, has recently increased its stake in Colliers International Group Inc. by 8.8% during the first quarter of this year. The company disclosed this information in its most recent Form 13F filing with the Securities and Exchange Commission. As a result of purchasing an additional 87,036 shares, Turtle Creek Asset Management now owns a total of 1,074,990 shares of Colliers International Group’s stock.
Colliers International Group is a well-known provider of commercial real estate professional and investment management services across various regions such as the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company specializes in offering transaction brokerage services including sales, leasing, and debt finance services for both corporate and institutional clients. Additionally, they provide landlord and tenant representation services, capital markets and investment services, as well as mortgage investment banking services.
Based on Turtle Creek Asset Management’s recent filing with the Securities and Exchange Commission, it is estimated that Colliers International Group accounts for approximately 3.5% of the asset management firm’s holdings. This makes it their 16th largest position within their portfolio. With Turtle Creek Asset Management owning 2.53% of Colliers International Group’s total worth, their stake in the company is valued at approximately $113,465,000 as of their most recent filing.
This increase in ownership by Turtle Creek Asset Management demonstrates their confidence in Colliers International Group as a profitable investment opportunity within the financial sector. As an experienced asset management firm specializing in various financial services, Turtle Creek Asset Management carefully analyzes market trends and selects investments accordingly to maximize returns for its clients.
Investors who are following Colliers International Group closely should take note of these recent developments. Increased investment from reputable firms like Turtle Creek Asset Management indicates positive prospects for the company’s future performance.
For more detailed analysis and insights regarding Colliers International Group, interested parties are encouraged to review the latest research report released by Turtle Creek Asset Management. It can provide valuable information on the company’s financials, market trends, and potential investment opportunities.
Overall, the recent increase in stake by Turtle Creek Asset Management Inc. in Colliers International Group Inc. signifies their confidence and belief in the company’s growth potential within the commercial real estate industry. Investors should continue monitoring these developments as they may have implications for their own investment strategies moving forward.
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Promising Outlook for Colliers International Group: Recent Investments and Analyst Recommendations Suggest Positive Future
In recent months, several hedge funds and institutional investors have made changes to their positions in Colliers International Group, a leading financial services provider. Power Corp of Canada, for instance, purchased a new position in shares of the company worth $72,000 in the first quarter. Similarly, Citigroup Inc. acquired a position worth $75,000 during the same period, while JPMorgan Chase & Co. invested $123,000 in shares of Colliers International Group.
Quantbot Technologies LP also made significant changes to its holdings in the second quarter. The firm raised its stake in Colliers International Group by a staggering 1,500.0%, now owning 1,600 shares valued at approximately $175,000. Furthermore, Barclays PLC joined the lineup of investors and purchased a new position worth $177,000 during the fourth quarter. Overall, hedge funds and other institutional investors collectively hold an impressive 63.93% stake in the company.
Investment analysts from various brokerages have been closely monitoring Colliers International Group’s performance as well. National Bank Financial recently issued a report reducing their target price on the company’s shares from $133.00 to $131.00. Royal Bank of Canada provided more positive news by raising their target price from $128.00 to $130.00 and endorsing an “outperform” rating for the stock in early August.
StockNews.com also chimed in with their report on Colliers International Group later that month and maintained a “hold” rating for the company’s shares. However, one analyst has given it a strong buy rating while five others have rated it as a buy recommendation overall.
Considering these ratings and recommendations from reputable sources like Bloomberg.com which shows a consensus target price of $133.14 per share for Colliers International Group stock; it seems that there is optimistic sentiment around this financial services provider.
Trading on Friday saw CIGI stock increase by $0.23, reaching $114.05 per share during midday trading. Approximately 67,636 shares were exchanged, which is close to the average volume of 71,018 shares traded. The company currently boasts a market capitalization of $5.23 billion, with a P/E ratio of 760.33 and a beta of 1.45.
Colliers International Group Inc.’s financial performance was last reported on August 2nd when the company disappointed analysts with an EPS of $1.21 for the quarter, falling short of the consensus estimate of $1.35 by ($0.14). However, it generated revenue worth $1.08 billion in line with analyst estimates.
Despite its narrow net margin of only 0.17%, Colliers International Group has managed to maintain a commendable return on equity of 47.47%. Analysts forecast that the company will achieve earnings per share (EPS) of around 6.54 for the current fiscal year.
Investors and analysts alike will closely monitor Colliers International Group’s upcoming performance to assess its ability to meet or exceed expectations in order to make informed investment decisions moving forward.
Overall, Colliers International Group’s recent investments from hedge funds and institutional investors, combined with positive target price adjustments from credible sources, indicate a promising outlook for the company’s future prospects within the financial services industry.
