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

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 479,600 shares, an increase of 20.8% from the April 30th total of 396,900 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 135,800 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CIGI shares. Cibc World Mkts upgraded Colliers International Group to a "strong-buy" rating in a research report on Tuesday, March 4th. Royal Bank of Canada lifted their target price on Colliers International Group from $170.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price target on Colliers International Group from $165.00 to $145.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. BMO Capital Markets decreased their target price on shares of Colliers International Group from $177.00 to $172.00 and set a "market perform" rating for the company in a research report on Friday, February 7th. Finally, National Bankshares dropped their price target on shares of Colliers International Group from $182.00 to $169.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Colliers International Group has an average rating of "Moderate Buy" and an average price target of $160.80.

Colliers International Group Stock Up 1.1%

Shares of NASDAQ CIGI traded up $1.42 during mid-day trading on Thursday, reaching $126.52. The company had a trading volume of 40,067 shares, compared to its average volume of 119,268. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 39.66 and a beta of 1.38. Colliers International Group has a 12-month low of $100.86 and a 12-month high of $156.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a fifty day moving average of $118.68 and a two-hundred day moving average of $130.01.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $0.77 EPS. The company's revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts expect that Colliers International Group will post 6.2 EPS for the current year.

Colliers International Group Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, July 14th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, June 30th. This represents a dividend yield of 0.2%. Colliers International Group's payout ratio is presently 10.53%.

Institutional Trading of Colliers International Group

Several large investors have recently added to or reduced their stakes in CIGI. Tobam raised its position in Colliers International Group by 12.0% in the 4th quarter. Tobam now owns 913 shares of the financial services provider's stock valued at $124,000 after purchasing an additional 98 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after acquiring an additional 100 shares during the last quarter. TCTC Holdings LLC lifted its position 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 worth $26,000 after purchasing an additional 116 shares in the last quarter. Plato Investment Management Ltd grew its stake in shares of Colliers International Group by 16.0% during the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 118 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Colliers International Group by 1.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,094 shares of the financial services provider's stock valued at $1,100,000 after purchasing an additional 144 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

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.