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

by · The Markets Daily

Colliers International Group Inc. (NASDAQ:CIGIGet Free Report) (TSE:CIGI)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $145.22, but opened at $137.07. Colliers International Group shares last traded at $148.9790, with a volume of 4,294 shares trading hands.

Analyst Upgrades and Downgrades

CIGI has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Colliers International Group in a research note on Wednesday, October 8th. CIBC upped their price objective on shares of Colliers International Group from $175.00 to $179.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Wall Street Zen raised shares of Colliers International Group from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus boosted their price objective on shares of Colliers International Group from $180.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, National Bankshares lifted their target price on Colliers International Group from $181.00 to $185.00 in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.70.

Read Our Latest Research Report on CIGI

Colliers International Group Stock Performance

The company has a market capitalization of $7.55 billion, a P/E ratio of 64.95 and a beta of 1.40. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14. The business has a 50 day moving average of $147.80 and a 200-day moving average of $150.60.

Colliers International Group Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 14th. Investors of record on Wednesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a dividend yield of 20.0%. Colliers International Group’s dividend payout ratio (DPR) is 13.10%.

Hedge Funds Weigh In On Colliers International Group

Several institutional investors have recently bought and sold shares of the business. Durable Capital Partners LP grew 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 buying an additional 652,744 shares in the last quarter. Norges Bank acquired a new position in Colliers International Group during the 2nd quarter worth $74,820,000. JPMorgan Chase & Co. raised its holdings in Colliers International Group by 114,621.7% during the third quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock worth $53,762,000 after purchasing an additional 343,865 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Colliers International Group during the second quarter worth about $35,521,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Colliers International Group by 732.8% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 214,234 shares of the financial services provider’s stock valued at $33,498,000 after acquiring an additional 188,508 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Company Profile

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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.

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