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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 356,200 shares, an increase of 29.5% from the January 31st total of 275,100 shares. Based on an average daily volume of 111,900 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Trading of Colliers International Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of Colliers International Group by 1,752.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 298 shares during the period. Plato Investment Management Ltd purchased a new stake in Colliers International Group in the third quarter valued at approximately $112,000. Tobam boosted its holdings in shares of Colliers International Group by 12.0% in the fourth 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. Venturi Wealth Management LLC purchased a new position in shares of Colliers International Group during the fourth quarter worth approximately $145,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of Colliers International Group by 44.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Analysts Set New Price Targets

CIGI has been the topic of several recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Colliers International Group in a research note on Monday, December 16th. They set a “neutral” rating and a $167.00 target price on the stock. Raymond James cut their price objective on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. National Bankshares decreased their target price on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Royal Bank of Canada upped their price target on Colliers International Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Scotiabank decreased their price objective on Colliers International Group from $170.00 to $166.00 and set a “sector outperform” rating for the company in a research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.67.

Colliers International Group Stock Up 2.1 %

Shares of CIGI traded up $2.66 during mid-day trading on Wednesday, reaching $128.18. The company’s stock had a trading volume of 57,334 shares, compared to its average volume of 124,395. The company’s 50 day moving average is $134.78 and its 200 day moving average is $142.89. The stock has a market cap of $6.49 billion, a PE ratio of 40.18 and a beta of 1.49. Colliers International Group has a 12-month low of $101.01 and a 12-month high of $156.96. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.06 and a quick ratio of 1.06.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.87 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%. Equities analysts anticipate that Colliers International Group will post 6.2 EPS for the current fiscal year.

Colliers International Group Company Profile

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.