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

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

Hedge Funds Weigh In On Colliers International Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CIGI. Janus Henderson Group PLC bought a new stake in shares of Colliers International Group in the 3rd quarter worth approximately $69,920,000. Franklin Resources Inc. lifted its holdings in shares of Colliers International Group by 100.8% in the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after acquiring an additional 340,691 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Colliers International Group by 55.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock worth $54,461,000 after acquiring an additional 128,005 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Colliers International Group by 114.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,800 shares of the financial services provider’s stock worth $24,552,000 after acquiring an additional 86,469 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Colliers International Group by 93.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 121,801 shares of the financial services provider’s stock worth $18,491,000 after acquiring an additional 58,858 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Price Performance

CIGI stock traded down $3.05 during midday trading on Monday, reaching $139.30. The company had a trading volume of 113,819 shares, compared to its average volume of 92,334. 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 has a 1 year low of $101.01 and a 1 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 firm has a 50-day moving average price of $141.55 and a 200-day moving average price of $143.32.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released 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). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm earned $1.10 EPS. Colliers International Group’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts anticipate that Colliers International Group will post 5.41 earnings per share for the current fiscal year.

Colliers International Group Announces Dividend

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

Analyst Upgrades and Downgrades

CIGI has been the subject of several recent research reports. Scotiabank reduced their target price on shares of Colliers International Group from $172.50 to $170.00 and set a “sector outperform” rating for the company in a research note on Tuesday, January 28th. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Colliers International Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $167.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Colliers International Group in a research note on Friday, December 6th. They issued a “neutral” rating and a $170.00 target price for the company. Finally, Raymond James boosted their price objective on shares of Colliers International Group from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday. Four investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

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.