Colliers International Group (NASDAQ:CIGI) Stock Breaks Below 200 Day Moving Average – Should You Sell?

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $104.23 and traded as low as $102.21. Colliers International Group shares last traded at $103.12, with a volume of 254,002 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CIGI shares. Scotia dropped their price target on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 31st. Weiss Ratings upgraded Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Colliers International Group in a research note on Thursday, September 24th. Scotiabank decreased their price objective on Colliers International Group from $145.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 28th. Finally, National Bank Financial decreased their price objective on Colliers International Group from $110.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.86.

Colliers International Group Price Performance

The firm has a market capitalization of $5.27 billion, a P/E ratio of 49.10 and a beta of 1.18. The firm has a 50 day moving average price of $93.39 and a 200-day moving average price of $104.23. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61.

Institutional Trading of Colliers International Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont bought a new position in Colliers International Group during the second quarter valued at $36,000. Global Retirement Partners LLC purchased a new stake in shares of Colliers International Group in the second quarter valued at $44,000. Tacita Capital Inc purchased a new stake in shares of Colliers International Group in the second quarter valued at $67,000. Nykredit A S bought a new stake in shares of Colliers International Group in the 2nd quarter worth about $84,000. Finally, Callan Family Office LLC bought a new stake in shares of Colliers International Group in the 2nd quarter worth about $228,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related business services. The company serves corporate, institutional and private clients through a broad platform that includes leasing, capital markets, valuation and advisory services.

Its other activities include property, facilities and project management, engineering and consulting services, and real estate investment management. These services are designed to help clients manage, develop, lease, acquire and dispose of commercial properties and portfolios across a range of sectors.

Colliers operates across the Americas, Asia Pacific and Europe, the Middle East and Africa through a combination of company-owned operations and affiliated offices.