Colliers International Group (NASDAQ:CIGI) Shares Down 4.7% – Here’s What Happened

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) were down 4.7% on Tuesday . The stock traded as low as $111.71 and last traded at $112.3450. Approximately 83,703 shares changed hands during trading, a decline of 79% from the average daily volume of 389,656 shares. The stock had previously closed at $117.92.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CIGI. Stifel Nicolaus decreased their target price on Colliers International Group from $195.00 to $175.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Colliers International Group in a report on Wednesday, January 21st. National Bank Financial lowered their price objective on shares of Colliers International Group from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Raymond James Financial cut their target price on shares of Colliers International Group from $200.00 to $185.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, February 17th. Finally, Scotiabank lowered their price target on shares of Colliers International Group from $185.00 to $155.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Colliers International Group has a consensus rating of “Moderate Buy” and an average target price of $170.00.

Colliers International Group Price Performance

The company has a 50 day moving average price of $131.18 and a 200-day moving average price of $146.12. The company has a market cap of $5.46 billion, a price-to-earnings ratio of 54.57 and a beta of 1.40. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.06.

Institutional Trading of Colliers International Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Colliers International Group by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider’s stock worth $15,698,000 after buying an additional 56,755 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Colliers International Group by 1.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider’s stock worth $5,508,000 after acquiring an additional 505 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Colliers International Group by 57.5% in the second quarter. Envestnet Asset Management Inc. now owns 7,358 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 2,685 shares during the last quarter. Greenland Capital Management LP bought a new stake in Colliers International Group in the second quarter valued at approximately $2,886,000. Finally, TD Waterhouse Canada Inc. increased its position in Colliers International Group by 4.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 31,781 shares of the financial services provider’s stock valued at $4,156,000 after purchasing an additional 1,251 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

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.