Colliers International Group Inc. (NASDAQ:CIGI) Sees Significant Increase in Short Interest

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 387,200 shares, an increase of 21.9% from the February 28th total of 317,600 shares. Based on an average daily trading volume, of 124,900 shares, the short-interest ratio is presently 3.1 days. Approximately 0.9% of the company’s stock are short sold.

Colliers International Group Price Performance

Shares of CIGI opened at $124.06 on Thursday. The company has a market capitalization of $6.12 billion, a P/E ratio of 38.89 and a beta of 1.58. The business’s 50-day moving average is $129.72 and its two-hundred day moving average is $140.07. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. Colliers International Group has a fifty-two week low of $101.01 and a fifty-two week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. Research analysts predict that Colliers International Group will post 6.2 earnings per share for the current year.

Institutional Trading of Colliers International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tobam grew its position in shares of Colliers International Group by 12.0% during the 4th quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 98 shares during the period. Plato Investment Management Ltd raised its stake in shares of Colliers International Group by 16.0% during the 4th quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock worth $117,000 after buying an additional 118 shares during the period. Pictet Asset Management Holding SA lifted its position in shares of Colliers International Group by 1.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,094 shares of the financial services provider’s stock valued at $1,100,000 after buying an additional 144 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Colliers International Group by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 34,425 shares of the financial services provider’s stock valued at $4,681,000 after acquiring an additional 151 shares during the period. Finally, Alliancebernstein L.P. raised its position in Colliers International Group by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 7,474 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 180 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CIGI shares. BMO Capital Markets decreased their target price on shares of Colliers International Group from $177.00 to $172.00 and set a “market perform” rating for the company in a research report on Friday, February 7th. The Goldman Sachs Group lowered their price objective on Colliers International Group from $165.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. CIBC began coverage on Colliers International Group in a research note on Tuesday, March 4th. They set a “sector outperform” rating and a $160.00 target price on the stock. Raymond James decreased their price target on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, National Bankshares dropped their price target on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.30.

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.