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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 355,700 shares, an increase of 9.8% from the December 15th 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.

Colliers International Group Stock Performance

NASDAQ CIGI traded up $1.06 during trading on Friday, reaching $137.91. The company’s stock had a trading volume of 50,896 shares, compared to its average volume of 87,159. The firm has a 50 day moving average price of $142.42 and a 200 day moving average price of $141.58. Colliers International Group has a 12 month low of $101.01 and a 12 month high of $156.96. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 43.92 and a beta of 1.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. As a group, equities analysts anticipate that Colliers International Group will post 5.41 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a $0.15 dividend. 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 9.55%.

Wall Street Analyst Weigh In

CIGI has been the topic of several analyst reports. JPMorgan Chase & Co. initiated 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 target on the stock. Scotiabank upped their target price 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. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group initiated coverage on Colliers International Group in a report on Friday, December 6th. They set 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.44.

Institutional Investors Weigh In On Colliers International Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Colliers International Group by 26.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 124 shares in the last quarter. King Luther Capital Management Corp grew its holdings in Colliers International Group by 1.2% during the 3rd quarter. King Luther Capital Management Corp now owns 14,639 shares of the financial services provider’s stock worth $2,222,000 after acquiring an additional 178 shares during the last quarter. HighTower Advisors LLC increased its position in Colliers International Group by 13.6% in the 3rd quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 254 shares during the period. Whittier Trust Co. raised its stake in shares of Colliers International Group by 8.4% during the third quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 277 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Colliers International Group by 3.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,346 shares of the financial services provider’s stock worth $1,420,000 after purchasing an additional 291 shares during the period. Institutional investors own 80.09% of the company’s stock.

About Colliers International Group

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.