Short Interest in Colliers International Group Inc (NASDAQ:CIGI) Increases By 9.4%

Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 199,100 shares, an increase of 9.4% from the September 30th total of 182,000 shares. Based on an average trading volume of 56,400 shares, the short-interest ratio is currently 3.5 days. Approximately 0.6% of the shares of the company are short sold.

Several institutional investors have recently bought and sold shares of the company. EdgePoint Investment Group Inc. grew its position in shares of Colliers International Group by 11.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 345,564 shares of the financial services provider’s stock worth $25,954,000 after buying an additional 36,200 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Colliers International Group by 8.6% during the 3rd quarter. TimesSquare Capital Management LLC now owns 332,500 shares of the financial services provider’s stock worth $24,954,000 after buying an additional 26,300 shares during the period. Lincluden Management Ltd. grew its position in shares of Colliers International Group by 30.5% during the 3rd quarter. Lincluden Management Ltd. now owns 31,625 shares of the financial services provider’s stock worth $2,375,000 after buying an additional 7,400 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Colliers International Group by 1,367.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,859 shares of the financial services provider’s stock worth $290,000 after buying an additional 3,596 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Colliers International Group by 254.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,860 shares of the financial services provider’s stock worth $515,000 after buying an additional 4,924 shares during the period. Institutional investors own 70.54% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets set a $81.00 price objective on shares of Colliers International Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BidaskClub cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Scotiabank raised Colliers International Group from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 23rd. Royal Bank of Canada reduced their target price on Colliers International Group from $83.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Colliers International Group in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Colliers International Group has a consensus rating of “Buy” and a consensus price target of $77.53.

CIGI stock traded up $0.05 during midday trading on Friday, hitting $70.84. The stock had a trading volume of 56,900 shares, compared to its average volume of 77,719. The stock has a 50-day simple moving average of $71.23 and a 200 day simple moving average of $69.05. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 28.91 and a beta of 1.57. Colliers International Group has a 52 week low of $52.01 and a 52 week high of $77.79.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.37. The firm had revenue of $736.88 million during the quarter, compared to analyst estimates of $763.23 million. Colliers International Group had a return on equity of 25.57% and a net margin of 3.58%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. On average, equities analysts forecast that Colliers International Group will post 2.98 EPS for the current year.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

Further Reading: 52-week highs

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