Colliers International Group Inc. (NASDAQ:CIGI) Sees Significant Growth in Short Interest

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 387,200 shares, a growth 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 currently 3.1 days. Approximately 0.9% of the company’s shares are short sold.

Colliers International Group Stock Up 0.9 %

Shares of NASDAQ:CIGI opened at $124.06 on Thursday. The business’s 50 day moving average is $129.72 and its 200 day moving average is $140.07. The stock has a market cap of $6.12 billion, a P/E ratio of 38.89 and a beta of 1.58. Colliers International Group has a 52-week low of $101.01 and a 52-week high of $156.96. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.13.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. Sell-side analysts predict that Colliers International Group will post 6.2 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CIGI. Tower Research Capital LLC TRC lifted its position in shares of Colliers International Group by 1,752.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 298 shares during the period. Plato Investment Management Ltd lifted its holdings in Colliers International Group by 16.0% during the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock worth $117,000 after buying an additional 118 shares during the period. Tobam boosted its position in Colliers International Group by 12.0% during the 4th quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 98 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of Colliers International Group in the 4th quarter valued at $145,000. Finally, CIBC Private Wealth Group LLC raised its position in shares of Colliers International Group by 44.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,220 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Analyst Ratings Changes

CIGI has been the topic of several recent research reports. The Goldman Sachs Group decreased their price target on Colliers International Group from $165.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Scotiabank lowered their target price on shares of Colliers International Group from $166.00 to $165.00 and set a “sector outperform” rating for the company in a report on Monday. Royal Bank of Canada upped their price target on shares of Colliers International Group from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. began coverage on shares of Colliers International Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $167.00 price objective for the company. Finally, Colliers Securities set a $160.00 target price on Colliers International Group in a research note on Tuesday, March 4th. Four 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.30.

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.