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

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

Colliers International Group Stock Performance

Shares of CIGI traded up $1.06 during trading hours on Monday, hitting $137.91. The company had a trading volume of 50,896 shares, compared to its average volume of 87,159. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. The business has a fifty day moving average of $142.42 and a 200-day moving average of $141.78. Colliers International Group has a 12 month low of $101.01 and a 12 month high of $156.96. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 43.92 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Colliers International Group will post 5.41 EPS 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. Investors of record on Tuesday, December 31st were given a $0.15 dividend. This represents a dividend yield of 0.2%. The ex-dividend date was Tuesday, December 31st. Colliers International Group’s payout ratio is currently 9.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CIGI shares. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their price target on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Scotiabank increased their price target on Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. started coverage on Colliers International Group in a research note on Monday, December 16th. They set a “neutral” rating and a $167.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, five have assigned 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 price target of $162.44.

Institutional Investors Weigh In On Colliers International Group

Several institutional investors and hedge funds have recently bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. lifted its stake in 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 worth $90,000 after purchasing an additional 124 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Colliers International Group in the third quarter worth about $112,000. Blue Trust Inc. lifted its stake in Colliers International Group by 197.8% in the 3rd quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 619 shares during the last quarter. Stonegate Investment Group LLC acquired a new stake in Colliers International Group in the third quarter valued at approximately $264,000. Finally, HighTower Advisors LLC grew its stake in shares of Colliers International Group by 13.6% during the third 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 during the last quarter. Institutional investors own 80.09% of the company’s stock.

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.