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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) saw a large growth in short interest in 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 trading volume, of 124,900 shares, the short-interest ratio is currently 3.1 days. Approximately 0.9% of the company’s shares are sold short.

Analysts Set New Price Targets

CIGI has been the topic of several research reports. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. William Blair reaffirmed an “outperform” rating on shares of Colliers International Group in a research note on Friday, February 28th. Cibc World Mkts upgraded shares of Colliers International Group to a “strong-buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada increased their price objective 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. Finally, JPMorgan Chase & Co. initiated coverage on shares of Colliers International Group in a report on Monday, December 16th. They set a “neutral” rating and a $167.00 target price for the company. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Colliers International Group has an average rating of “Moderate Buy” and an average price target of $164.30.

Institutional Investors Weigh In On Colliers International Group

Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in 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 shares of Colliers International Group by 16.0% in the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 118 shares in the last quarter. Tobam lifted its holdings in shares of Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 98 shares in the last quarter. Venturi Wealth Management LLC bought a new position in shares of Colliers International Group during the fourth quarter worth about $145,000. Finally, CIBC Private Wealth Group LLC raised its position in 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 valued at $164,000 after buying an additional 378 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Trading Up 0.3 %

CIGI stock traded up $0.34 during midday trading on Wednesday, hitting $123.25. 15,288 shares of the company’s stock were exchanged, compared to its average volume of 113,299. Colliers International Group has a one year low of $101.01 and a one year high of $156.96. The stock’s fifty day moving average price is $130.05 and its 200-day moving average price is $140.18. The company has a market cap of $6.08 billion, a PE ratio of 38.64 and a beta of 1.58. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06.

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

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.