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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 323,900 shares, a decrease of 7.2% from the November 30th total of 349,000 shares. Based on an average daily trading volume, of 98,900 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Colliers International Group by 26.4% during the 3rd 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 in the last quarter. King Luther Capital Management Corp grew its position in Colliers International Group by 1.2% in the third quarter. King Luther Capital Management Corp now owns 14,639 shares of the financial services provider’s stock valued at $2,222,000 after purchasing an additional 178 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Colliers International Group by 2.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,055 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 238 shares during the last quarter. HighTower Advisors LLC lifted its position in Colliers International Group by 13.6% during the 3rd quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock worth $323,000 after buying an additional 254 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Colliers International Group by 8.4% during the 3rd quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock worth $540,000 after buying an additional 277 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Down 0.6 %

CIGI traded down $0.77 during mid-day trading on Monday, hitting $134.19. The stock had a trading volume of 33,784 shares, compared to its average volume of 111,410. The stock’s fifty day simple moving average is $147.60 and its 200-day simple moving average is $139.20. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 42.74 and a beta of 1.47. Colliers International Group has a 1-year low of $101.01 and a 1-year high of $156.96. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.17 and a quick 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 the consensus estimate of $1.49 by ($0.17). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 EPS. As a group, research analysts forecast that Colliers International Group will post 5.44 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a dividend yield of 0.2%. Colliers International Group’s dividend payout ratio (DPR) is 9.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on Colliers International Group in a research report on Monday, December 16th. They issued 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. The Goldman Sachs Group initiated coverage on shares of Colliers International Group in a research report on Friday, December 6th. They set a “neutral” rating and a $170.00 price target for the company. Finally, Scotiabank increased their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.44.

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.