Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Up 9.8% in January

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the target of a large 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 trading volume, of 98,500 shares, the short-interest ratio is currently 3.6 days.

Colliers International Group Trading Down 2.1 %

NASDAQ:CIGI opened at $139.30 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $6.86 billion, a P/E ratio of 44.36 and a beta of 1.49. The firm has a 50-day simple moving average of $141.25 and a 200-day simple moving average of $143.38. Colliers International Group has a one year low of $101.01 and a one year high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. Equities analysts anticipate that Colliers International Group will post 5.41 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

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

Analyst Upgrades and Downgrades

CIGI has been the subject of a number of recent analyst reports. National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group started coverage on shares of Colliers International Group in a research note on Friday, December 6th. They set a “neutral” rating and a $170.00 price target for the company. Royal Bank of Canada lifted their price objective on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Scotiabank decreased their price objective on shares of Colliers International Group from $172.50 to $170.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 28th. Finally, Raymond James lifted their price objective on shares of Colliers International Group from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Four 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. Based on data from MarketBeat, Colliers International Group currently has an average rating of “Moderate Buy” and an average target price of $164.63.

Hedge Funds Weigh In On Colliers International Group

A number of large investors have recently added to or reduced their stakes in CIGI. Stonegate Investment Group LLC purchased a new position in shares of Colliers International Group in the third quarter valued at approximately $264,000. Dixon Mitchell Investment Counsel Inc. grew its stake in Colliers International Group by 7.2% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 86,011 shares of the financial services provider’s stock valued at $13,068,000 after acquiring an additional 5,800 shares during the last quarter. Blue Trust Inc. lifted its holdings 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 in the last quarter. Whittier Trust Co. lifted its holdings in shares of Colliers International Group by 8.4% during the 3rd quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 277 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Colliers International Group by 26.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after buying an additional 124 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

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.