Colliers International Group Inc. (NASDAQ:CIGI) Sees Large Drop in Short Interest

Key Points

• Colliers International Group experienced a significant 31.9% decrease in short interest in September, dropping from 530,100 shares to 360,900 shares.
• Several analysts have raised their price targets for Colliers International Group, with the stock receiving an average price target of $175.70 and a consensus rating of "Moderate Buy."
• Institutional investors hold 80.09% of Colliers International Group's stock, indicating strong institutional confidence in the company's financial health.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 360,900 shares, a decline of 31.9% from the September 15th total of 530,100 shares. Based on an average daily volume of 137,200 shares, the days-to-cover ratio is presently 2.6 days. Based on an average daily volume of 137,200 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CIGI shares. CIBC upped their price target on Colliers International Group from $175.00 to $179.00 and gave the stock an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Colliers International Group from $137.00 to $181.00 and gave the company a "neutral" rating in a research note on Tuesday, August 26th. Scotiabank increased their price objective on Colliers International Group from $170.00 to $185.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 16th. Royal Bank Of Canada increased their price objective on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Colliers International Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.70.

Institutional Trading of Colliers International Group

Several large investors have recently bought and sold shares of CIGI. EverSource Wealth Advisors LLC boosted its stake in shares of Colliers International Group by 26.3% during the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 63 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Colliers International Group by 17.1% during the third quarter. Blue Trust Inc. now owns 507 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 74 shares in the last quarter. Cornerstone Investment Partners LLC boosted its stake in shares of Colliers International Group by 3.6% during the second quarter. Cornerstone Investment Partners LLC now owns 2,193 shares of the financial services provider's stock valued at $286,000 after purchasing an additional 77 shares in the last quarter. TCTC Holdings LLC boosted its stake in shares of Colliers International Group by 114.9% during the first quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 116 shares in the last quarter. Finally, Vista Finance LLC boosted its stake in shares of Colliers International Group by 4.1% during the second quarter. Vista Finance LLC now owns 3,073 shares of the financial services provider's stock valued at $401,000 after purchasing an additional 120 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Price Performance

NASDAQ:CIGI traded up $6.13 during trading hours on Thursday, hitting $169.29. The company's stock had a trading volume of 351,551 shares, compared to its average volume of 131,064. The stock has a fifty day simple moving average of $160.98 and a 200-day simple moving average of $139.83. The company has a market capitalization of $8.39 billion, a P/E ratio of 76.95 and a beta of 1.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group has a twelve month low of $100.86 and a twelve month high of $170.65.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.20. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.Colliers International Group's revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. On average, analysts anticipate that Colliers International Group will post 6.2 EPS for the current fiscal year.

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.

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