Colliers International Group (NASDAQ:CIGI) Shares Cross Below 200-Day Moving Average - Here's Why

Key Points

• Colliers shares fell below their 200-day moving average of $104.23 on Tuesday, reaching an intraday low of $102.21 and last trading at $103.12.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $148.86; recent firms trimmed some targets while retaining outperform ratings.
• Institutional investors own 80.09% of the company’s stock, with several firms recently increasing their positions and others initiating stakes.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $104.23 and traded as low as $102.21. Colliers International Group shares last traded at $103.12, with a volume of 254,002 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on CIGI shares. National Bank Financial cut their price target on Colliers International Group from $110.00 to $109.00 and set an "outperform" rating for the company in a report on Thursday, October 15th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Colliers International Group in a research note on Thursday, September 24th. Weiss Ratings raised Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Scotia cut their price objective on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating for the company in a research note on Friday, July 31st. Finally, Scotiabank cut their price objective on Colliers International Group from $145.00 to $130.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $148.86.

Colliers International Group Trading Down 1.2%

The stock has a fifty day simple moving average of $93.39 and a 200 day simple moving average of $104.23. The firm has a market capitalization of $5.27 billion, a P/E ratio of 49.10 and a beta of 1.18. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61.

Institutional Trading of Colliers International Group

Several institutional investors have recently made changes to their positions in the business. Compass Ion Advisors LLC boosted its position in shares of Colliers International Group by 4.4% during the third quarter. Compass Ion Advisors LLC now owns 2,747 shares of the financial services provider's stock worth $247,000 after acquiring an additional 116 shares during the last quarter. NewEdge Advisors LLC grew its stake in Colliers International Group by 5.9% during the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 126 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Colliers International Group by 1.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 8,117 shares of the financial services provider's stock valued at $729,000 after acquiring an additional 137 shares during the last quarter. Trust Co. of Vermont bought a new stake in Colliers International Group in the 2nd quarter valued at $36,000. Finally, Global Retirement Partners LLC bought a new stake in Colliers International Group in the 2nd quarter valued at $44,000. Hedge funds and other institutional investors own 80.09% of the company's stock.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related business services. The company serves corporate, institutional and private clients through a broad platform that includes leasing, capital markets, valuation and advisory services.

Its other activities include property, facilities and project management, engineering and consulting services, and real estate investment management. These services are designed to help clients manage, develop, lease, acquire and dispose of commercial properties and portfolios across a range of sectors.

Colliers operates across the Americas, Asia Pacific and Europe, the Middle East and Africa through a combination of company-owned operations and affiliated offices.

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