Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Up 29.5% in February

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 356,200 shares, an increase of 29.5% from the January 31st total of 275,100 shares. Based on an average daily trading volume, of 111,900 shares, the days-to-cover ratio is currently 3.2 days.

Analyst Upgrades and Downgrades

CIGI has been the topic of a number of recent analyst reports. StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. CIBC began coverage on shares of Colliers International Group in a report on Tuesday. They issued a “sector outperform” rating and a $160.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Colliers International Group in a report on Monday, December 16th. They issued a “neutral” rating and a $167.00 target price on the stock. William Blair restated an “outperform” rating on shares of Colliers International Group in a report on Friday. Finally, National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and an average target price of $167.67.

Hedge Funds Weigh In On Colliers International Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its stake in shares of Colliers International Group by 6.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 24,776 shares of the financial services provider’s stock worth $3,368,000 after buying an additional 1,444 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Colliers International Group by 9.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 128,275 shares of the financial services provider’s stock worth $17,422,000 after buying an additional 10,667 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Colliers International Group in the 4th quarter worth $222,000. Silvercrest Asset Management Group LLC grew its stake in shares of Colliers International Group by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 34,425 shares of the financial services provider’s stock worth $4,681,000 after buying an additional 151 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Colliers International Group by 288.0% in the 4th quarter. Nuveen Asset Management LLC now owns 126,451 shares of the financial services provider’s stock worth $17,187,000 after buying an additional 93,864 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Price Performance

Shares of CIGI stock traded down $0.20 on Tuesday, hitting $125.52. 97,119 shares of the stock traded hands, compared to its average volume of 126,103. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 39.35 and a beta of 1.49. Colliers International Group has a 52 week low of $101.01 and a 52 week high of $156.96. The firm has a 50 day simple moving average of $135.01 and a two-hundred day simple moving average of $142.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.06 and a quick ratio of 1.06.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. As a group, equities research analysts predict that Colliers International Group will post 6.2 earnings per share for the current fiscal year.

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.