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

Key Points

• Colliers International Group Inc. experienced a 42.2% drop in short interest for August, with 583,800 shares reported on August 15, down from 1,010,000 shares at the end of July.
• The company reported $1.72 earnings per share (EPS) for the last quarter, exceeding estimates and marking an 18.3% increase in revenue year-over-year.
• Several analysts have upgraded their price targets for Colliers International Group, with CIBC raising it to $175.00 and JPMorgan to $181.00, reflecting a generally positive outlook on the stock.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 583,800 shares, a decrease of 42.2% from the July 31st total of 1,010,000 shares. Based on an average trading volume of 139,400 shares, the short-interest ratio is currently 4.2 days. Based on an average trading volume of 139,400 shares, the short-interest ratio is currently 4.2 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. MQS Management LLC purchased a new position in shares of Colliers International Group during the first quarter valued at approximately $527,000. Millennium Management LLC bought a new position in shares of Colliers International Group in the fourth quarter worth approximately $3,587,000. Massachusetts Financial Services Co. MA boosted its position in shares of Colliers International Group by 4.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock worth $12,869,000 after purchasing an additional 4,153 shares during the period. Victory Capital Management Inc. boosted its position in shares of Colliers International Group by 1.1% in the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock worth $84,548,000 after purchasing an additional 7,815 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Colliers International Group by 102.5% in the fourth quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock worth $12,678,000 after purchasing an additional 47,195 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CIGI shares. Raymond James Financial increased their price objective on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. National Bankshares boosted their price objective on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. JMP Securities started coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Royal Bank Of Canada lifted their target price on shares of Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $172.30.

Colliers International Group Trading Up 1.5%

NASDAQ CIGI traded up $2.43 during trading on Thursday, hitting $167.68. The company had a trading volume of 71,923 shares, compared to its average volume of 133,424. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. Colliers International Group has a one year low of $100.86 and a one year high of $170.65. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 76.10 and a beta of 1.41. The company's fifty day moving average is $152.06 and its 200-day moving average is $132.61.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.20. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 20.82%. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share. On average, sell-side analysts predict that Colliers International Group will post 6.2 earnings per share for the current 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.