Colliers International Group (NASDAQ:CIGI) Shares Gap Down - Here's Why

Shares of Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI gapped down prior to trading on Tuesday . The stock had previously closed at $154.03, but opened at $144.90. Colliers International Group shares last traded at $145.85, with a volume of 25,852 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Colliers International Group from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Raymond James cut Colliers International Group from a "strong-buy" rating to an "outperform" rating and upped their price objective for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. StockNews.com cut Colliers International Group from a "buy" rating to a "hold" rating in a research report on Tuesday, October 8th. Scotiabank upped their price objective on Colliers International Group from $150.00 to $155.00 and gave the company a "sector outperform" rating in a research report on Friday, August 2nd. Finally, National Bankshares upped their price objective on Colliers International Group from $125.00 to $137.00 and gave the company a "sector perform" rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $158.33.

Colliers International Group Price Performance

The firm has a fifty day moving average price of $148.04 and a two-hundred day moving average price of $129.40. The stock has a market capitalization of $7.32 billion, a P/E ratio of 52.39 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03.

Institutional Investors Weigh In On Colliers International Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in Colliers International Group by 252.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider's stock worth $56,000 after buying an additional 316 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Colliers International Group in the 1st quarter worth $229,000. Whittier Trust Co. increased its stake in Colliers International Group by 16.4% in the 1st quarter. Whittier Trust Co. now owns 3,764 shares of the financial services provider's stock worth $460,000 after buying an additional 529 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Colliers International Group by 575.0% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider's stock worth $30,000 after buying an additional 207 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Colliers International Group in the 1st quarter worth $118,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

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.