Colliers International Group (NASDAQ:CIGI) Hits New 12-Month Low - Should You Sell?

Key Points

• Colliers International Group hit a new 52-week low, trading as low as $95.55 and last at $98.45 on the session, down from a prior close of $102.75.
• Analysts still rate the stock a consensus “Moderate Buy” with an average price target of $165.38, even after several recent target cuts (from about $185 to as low as $155).
• Institutional investors own about 80.09% of the company, and several funds — notably Goldman Sachs, which increased its stake by 78.1% to 129,415 shares — have recently added to positions.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI reached a new 52-week low during trading on Tuesday . The company traded as low as $95.55 and last traded at $98.4450, with a volume of 77782 shares changing hands. The stock had previously closed at $102.75.

Analyst Upgrades and Downgrades

CIGI has been the topic of a number of recent analyst reports. Raymond James Financial decreased their target price on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Scotiabank decreased their target price on shares of Colliers International Group from $185.00 to $155.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 17th. Stifel Nicolaus set a $175.00 target price on shares of Colliers International Group in a research report on Friday, March 13th. Royal Bank Of Canada decreased their target price on shares of Colliers International Group from $180.00 to $160.00 and set an "outperform" rating on the stock in a research report on Monday, March 30th. Finally, Zacks Research raised shares of Colliers International Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Colliers International Group currently has an average rating of "Moderate Buy" and an average target price of $165.38.

Colliers International Group Price Performance

The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 48.33 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.06. The company's 50-day moving average price is $110.38 and its 200-day moving average price is $132.67.

Institutional Trading of Colliers International Group

Several hedge funds have recently made changes to their positions in CIGI. Goldman Sachs Group Inc. increased its stake in shares of Colliers International Group by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock worth $15,698,000 after buying an additional 56,755 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Colliers International Group by 1.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider's stock worth $5,508,000 after buying an additional 505 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Colliers International Group during the second quarter worth approximately $39,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Colliers International Group by 190.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider's stock worth $1,055,000 after buying an additional 5,286 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Colliers International Group by 0.5% during the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider's stock worth $37,232,000 after buying an additional 1,470 shares during the period. Institutional investors and hedge funds own 80.09% of the company's stock.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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