Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Down 10.8% in October

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 429,400 shares, a drop of 10.8% from the September 30th total of 481,300 shares. Based on an average daily volume of 114,200 shares, the days-to-cover ratio is currently 3.8 days.

Colliers International Group Trading Up 0.5 %

Colliers International Group stock traded up $0.80 during trading on Wednesday, hitting $154.72. The company had a trading volume of 82,053 shares, compared to its average volume of 112,889. Colliers International Group has a 1-year low of $83.38 and a 1-year high of $156.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. The company’s 50 day simple moving average is $147.25 and its 200-day simple moving average is $128.14. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 75.52 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. As a group, analysts expect that Colliers International Group will post 5.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

Several institutional investors have recently modified their holdings of CIGI. The Manufacturers Life Insurance Company grew its stake in shares of Colliers International Group by 47.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after acquiring an additional 326,453 shares in the last quarter. Clearbridge Investments LLC grew its stake in shares of Colliers International Group by 91.3% in the second quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock worth $34,677,000 after acquiring an additional 148,265 shares in the last quarter. Intact Investment Management Inc. acquired a new position in shares of Colliers International Group in the second quarter worth $6,970,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Colliers International Group in the first quarter worth $7,092,000. Finally, Victory Capital Management Inc. grew its stake in shares of Colliers International Group by 5.9% during the second quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after purchasing an additional 41,225 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CIGI. BMO Capital Markets raised their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. National Bankshares lifted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Scotiabank lifted their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a research report on Friday, August 2nd. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and an average target price of $158.33.

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.