Colliers International Group (NASDAQ:CIGI) Shares Gap Down – Here’s Why

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) gapped down prior to trading on Monday . The stock had previously closed at $145.22, but opened at $137.07. Colliers International Group shares last traded at $148.9790, with a volume of 4,294 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Colliers International Group in a research report on Wednesday, October 8th. National Bankshares upped their price target on shares of Colliers International Group from $181.00 to $185.00 in a research note on Monday, December 15th. Scotiabank raised their price objective on shares of Colliers International Group from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. CIBC upped their target price on Colliers International Group from $175.00 to $179.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. Finally, Wall Street Zen raised Colliers International Group from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.70.

Colliers International Group Price Performance

The company’s 50 day moving average price is $147.80 and its 200 day moving average price is $150.60. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 64.95 and a beta of 1.40.

Colliers International Group Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Wednesday, December 31st will be paid a $0.15 dividend. This represents a yield of 20.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Colliers International Group’s dividend payout ratio is presently 13.10%.

Institutional Investors Weigh In On Colliers International Group

A number of large investors have recently added to or reduced their stakes in the business. Durable Capital Partners LP increased its position in Colliers International Group by 22.0% during the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after acquiring an additional 652,744 shares during the period. Norges Bank purchased a new stake in shares of Colliers International Group during the 2nd quarter valued at $74,820,000. JPMorgan Chase & Co. raised its stake in shares of Colliers International Group by 114,621.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock valued at $53,762,000 after purchasing an additional 343,865 shares during the period. Picton Mahoney Asset Management bought a new position in Colliers International Group in the second quarter valued at $35,521,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Colliers International Group by 732.8% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider’s stock worth $33,498,000 after buying an additional 188,508 shares during the period. Institutional investors own 80.09% of the company’s stock.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.