Colliers International Group Inc. (NASDAQ:CIGI) Short Interest Up 83.7% in July

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 1,010,000 shares, agrowthof83.7% from the July 15th total of 549,900 shares. Currently,2.4% of the company’s shares are short sold. Based on an average daily volume of 145,900 shares, the days-to-cover ratio is currently 6.9 days. Based on an average daily volume of 145,900 shares, the days-to-cover ratio is currently 6.9 days. Currently,2.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

CIGI has been the topic of several research analyst reports. Royal Bank Of Canada lifted their target price on Colliers International Group from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. National Bankshares lifted their target price on Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their target price on Colliers International Group from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Citizens Jmp initiated coverage on Colliers International Group in a research note on Monday, July 21st. They set a “market perform” rating on the stock. Finally, JMP Securities initiated coverage on Colliers International Group in a research note on Monday, July 21st. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Colliers International Group has an average rating of “Moderate Buy” and a consensus price target of $168.40.

Colliers International Group Stock Up 0.8%

Shares of Colliers International Group stock opened at $164.61 on Wednesday. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 74.82 and a beta of 1.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group has a 52-week low of $100.86 and a 52-week high of $165.42. The stock has a 50-day simple moving average of $140.68 and a 200-day simple moving average of $129.14.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.20. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. On average, equities research analysts expect that Colliers International Group will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Colliers International Group by 1.4% in the 1st quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider’s stock worth $462,816,000 after purchasing an additional 52,414 shares during the last quarter. Durable Capital Partners LP lifted its holdings in Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after purchasing an additional 652,744 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Colliers International Group by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider’s stock worth $230,558,000 after purchasing an additional 38,379 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Colliers International Group by 56.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider’s stock worth $117,140,000 after purchasing an additional 349,046 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Colliers International Group by 21.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider’s stock worth $117,619,000 after purchasing an additional 158,668 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

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.