Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Update

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 481,300 shares, a decline of 24.0% from the September 15th total of 633,600 shares. Based on an average trading volume of 124,200 shares, the short-interest ratio is presently 3.9 days.

Institutional Trading of Colliers International Group

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Colliers International Group by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock valued at $159,016,000 after buying an additional 5,152 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Colliers International Group by 47.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after acquiring an additional 326,453 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Colliers International Group by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after purchasing an additional 41,225 shares during the period. Bank of Montreal Can boosted its holdings in shares of Colliers International Group by 0.9% during the second quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock worth $76,703,000 after purchasing an additional 6,178 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Colliers International Group by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 561,869 shares of the financial services provider’s stock valued at $71,212,000 after purchasing an additional 67,857 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 target price on shares of Colliers International Group in a research report on Monday, September 9th. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. National Bankshares upped their target price on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Raymond James cut Colliers International Group from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. Finally, Scotiabank increased their price target on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Colliers International Group Price Performance

Shares of CIGI stock traded up $0.18 during midday trading on Tuesday, reaching $149.93. 107,219 shares of the company traded hands, compared to its average volume of 114,040. The firm has a market cap of $7.33 billion, a PE ratio of 73.14 and a beta of 1.49. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $143.82 and its two-hundred day simple moving average is $125.55. Colliers International Group has a 1-year low of $83.38 and a 1-year high of $154.11.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Colliers International Group will post 5.66 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.