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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 355,700 shares, an increase of 9.8% from the December 31st total of 323,900 shares. Based on an average daily trading volume, of 98,500 shares, the days-to-cover ratio is presently 3.6 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CIGI. Stonegate Investment Group LLC bought a new position in shares of Colliers International Group during the third quarter valued at about $264,000. Dixon Mitchell Investment Counsel Inc. raised its position in Colliers International Group by 7.2% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 86,011 shares of the financial services provider’s stock worth $13,068,000 after acquiring an additional 5,800 shares during the period. Blue Trust Inc. raised its position in Colliers International Group by 197.8% in the third quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 619 shares during the period. Whittier Trust Co. raised its position in Colliers International Group by 8.4% in the third quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 277 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Colliers International Group by 26.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 124 shares during the period. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Down 2.1 %

Shares of Colliers International Group stock traded down $3.05 during trading hours on Monday, reaching $139.30. The company’s stock had a trading volume of 113,819 shares, compared to its average volume of 92,334. Colliers International Group has a one year low of $101.01 and a one year high of $156.96. The company has a market capitalization of $6.86 billion, a P/E ratio of 44.36 and a beta of 1.49. The stock’s fifty day simple moving average is $141.55 and its two-hundred day simple moving average is $143.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts forecast that Colliers International Group will post 5.41 earnings per share for the current year.

Colliers International Group Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.15 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, December 31st. Colliers International Group’s payout ratio is currently 9.55%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CIGI shares. JPMorgan Chase & Co. started coverage on shares of Colliers International Group in a research report on Monday, December 16th. They set a “neutral” rating and a $167.00 price objective for the company. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Raymond James raised their price target on shares of Colliers International Group from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. Scotiabank reduced their price target on shares of Colliers International Group from $172.50 to $170.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group began coverage on shares of Colliers International Group in a report on Friday, December 6th. They issued a “neutral” rating and a $170.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.63.

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.