Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Up 21.9% in March

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) saw a significant 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 volume of 124,900 shares, the short-interest ratio is presently 3.1 days. Approximately 0.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CIGI shares. National Bankshares decreased their price objective on shares of Colliers International Group from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Friday, February 7th. CIBC initiated coverage on Colliers International Group in a research note on Tuesday, March 4th. They issued a “sector outperform” rating and a $160.00 price objective on the stock. StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Cibc World Mkts upgraded Colliers International Group to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets reduced their price objective on 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. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average price target of $164.30.

Colliers International Group Price Performance

Shares of NASDAQ CIGI traded up $0.34 during midday trading on Wednesday, reaching $123.25. 15,288 shares of the company traded hands, compared to its average volume of 113,299. 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 quick ratio of 1.06 and a current ratio of 1.06. The stock’s 50-day simple moving average is $130.05 and its 200-day simple moving average is $140.18. The firm has a market cap of $6.08 billion, a PE ratio of 38.64 and a beta of 1.58.

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 the consensus estimate of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. As a group, equities analysts anticipate that Colliers International Group will post 6.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its stake in shares of Colliers International Group by 6.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 24,776 shares of the financial services provider’s stock valued at $3,368,000 after buying an additional 1,444 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Colliers International Group by 9.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 128,275 shares of the financial services provider’s stock valued at $17,422,000 after acquiring an additional 10,667 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Colliers International Group in the fourth quarter worth about $222,000. Silvercrest Asset Management Group LLC lifted its position in shares of Colliers International Group by 0.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 34,425 shares of the financial services provider’s stock worth $4,681,000 after purchasing an additional 151 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Colliers International Group by 288.0% during the fourth quarter. Nuveen Asset Management LLC now owns 126,451 shares of the financial services provider’s stock worth $17,187,000 after purchasing an additional 93,864 shares in the last quarter. Institutional investors own 80.09% of the company’s stock.

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.