Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Down 68.0% in April

Colliers International Group Inc. (NASDAQ:CIGIGet Rating) (TSE:CIGI) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 251,100 shares, a drop of 68.0% from the April 15th total of 785,600 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 101,300 shares, the short-interest ratio is presently 2.5 days.

CIGI has been the topic of a number of analyst reports. National Bankshares dropped their price objective on shares of Colliers International Group from $176.00 to $164.00 and set an “outperform” rating on the stock in a report on Wednesday, May 4th. Raymond James set a $180.00 price objective on shares of Colliers International Group and gave the stock a “strong-buy” rating in a report on Tuesday. TheStreet cut shares of Colliers International Group from a “b-” rating to a “c” rating in a research note on Friday, March 4th. Zacks Investment Research cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 12th. Finally, The Goldman Sachs Group assumed coverage on shares of Colliers International Group in a research note on Tuesday, April 5th. They set a “neutral” rating and a $145.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $165.89.

Shares of NASDAQ:CIGI traded up $5.25 during trading hours on Friday, hitting $111.69. 132,352 shares of the company’s stock traded hands, compared to its average volume of 120,980. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.01 and a current ratio of 1.09. Colliers International Group has a 52 week low of $104.35 and a 52 week high of $158.42. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -11.60 and a beta of 1.49. The company’s fifty day simple moving average is $121.83 and its two-hundred day simple moving average is $135.72.

Colliers International Group (NASDAQ:CIGIGet Rating) (TSE:CIGI) last released its earnings results on Tuesday, May 3rd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Colliers International Group had a negative net margin of 9.58% and a negative return on equity of 75.86%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $905.20 million. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue was up 30.2% compared to the same quarter last year. On average, analysts anticipate that Colliers International Group will post 3.06 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Keybank National Association OH lifted its position in Colliers International Group by 7.1% during the 4th quarter. Keybank National Association OH now owns 5,135 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 340 shares during the period. Turtle Creek Asset Management Inc. bought a new position in shares of Colliers International Group in the third quarter valued at $45,601,000. LRT Capital Management LLC bought a new position in shares of Colliers International Group in the fourth quarter valued at $5,219,000. Steward Partners Investment Advisory LLC lifted its holdings in Colliers International Group by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,183 shares of the financial services provider’s stock valued at $2,562,000 after purchasing an additional 377 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Colliers International Group by 53.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 146,634 shares of the financial services provider’s stock worth $18,731,000 after buying an additional 51,264 shares in the last quarter. Institutional investors own 63.84% of the company’s stock.

Colliers International Group Company Profile (Get Rating)

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. It offers sales brokerage services, including real estate sales, debt origination and placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and landlord and tenant representation services.

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