Colliers International Group (NASDAQ:CIGI) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a hold rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

A number of other research firms have also weighed in on CIGI. National Bank Financial cut their price objective on Colliers International Group from $185.00 to $160.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Raymond James Financial reduced their price objective on shares of Colliers International Group from $200.00 to $185.00 and set a “strong-buy” rating for the company in a research report on Tuesday, February 17th. Stifel Nicolaus reduced their target price on Colliers International Group from $195.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Wall Street Zen cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colliers International Group in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Colliers International Group has an average rating of “Moderate Buy” and a consensus price target of $168.89.

Colliers International Group Stock Down 0.8%

Shares of NASDAQ CIGI opened at $114.13 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.10 and a debt-to-equity ratio of 1.06. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 56.78 and a beta of 1.40. Colliers International Group has a 52-week low of $98.97 and a 52-week high of $171.51. The business’s 50 day moving average is $139.42 and its two-hundred day moving average is $150.19.

Colliers International Group Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a yield of 20.0%. Colliers International Group’s payout ratio is currently 14.93%.

Hedge Funds Weigh In On Colliers International Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Durable Capital Partners LP raised its position in shares of Colliers International Group by 22.0% during 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. Norges Bank acquired a new position in shares of Colliers International Group in the 4th quarter valued at about $84,906,000. Bank of Montreal Can grew its stake in Colliers International Group by 69.0% during the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after buying an additional 439,607 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Colliers International Group by 114,621.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock valued at $53,762,000 after acquiring an additional 343,865 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in shares of Colliers International Group in the fourth quarter worth about $47,799,000. Institutional investors and hedge funds own 80.09% of the company’s stock.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.