Should You Now Consider Disposing Your Colliers International Group (CIGI) Stake?

Mawer Investment Management, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. In its third-quarter letter, the fund mentioned that the valuation correction experienced in 2022 has its benefits in that gravity is being restored to the system and that the probability of a global economic slowdown remains high. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Mawer Investment Management mentioned Colliers International Group Inc. (NASDAQ:CIGI) and explained its insights for Toronto, Canada Founded in (year founded), Colliers International Group Inc. (NASDAQ:CIGI) is a Toronto, Canada-based real estate company with a $4.0 billion market capitalization. Colliers International Group Inc. (NASDAQ:CIGI) delivered a -38.02% return since the beginning of the year, while its 12-month returns are down by -34.63%. The stock closed at $92.14 per share on October 14, 2022.

Here is what Mawer Investment Management has to say about Colliers International Group Inc. (NASDAQ:CIGI) in its Q3 2022 investor letter:

“There are a few other segments of our portfolios that displayed weakness in the quarter. Companies tied to the Real Estate market also tended to lag this quarter as higher interest rates impacted the sector. Holdings including Colliers International Group (NASDAQ:CIGI) had its stock price decline.”

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Our calculations show that Colliers International Group Inc. (NASDAQ:CIGI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Colliers International Group Inc. (NASDAQ:CIGI) was in 13 hedge fund portfolios at the end of the second quarter of 2022, compared to 20 funds in the previous quarter. Colliers International Group Inc. (NASDAQ:CIGI) delivered a -21.25% return in the past 3 months.

In September 2022, we also shared another hedge fund’s views on Colliers International Group Inc. (NASDAQ:CIGI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.