Here is What Hedge Funds Think about Colliers International Group Inc (CIGI)

Since Colliers International Group Inc (NASDAQ:CIGI) has faced bearish sentiment from the entirety of the hedge funds we track, it’s easy to see that there was a specific group of funds that slashed their positions entirely last quarter. Interestingly, Glenn Russell Dubin’s Highbridge Capital Management dropped the biggest stake of the “upper crust” of funds studied by Insider Monkey, totaling about $0.3 million in stock. Ken Griffin’s fund, Citadel Investment Group, also cut its stock, about $0.2 million worth.

Let’s check out hedge fund activity in other stocks similar to Colliers International Group Inc (NASDAQ:CIGI). These stocks are Plexus Corp. (NASDAQ:PLXS), Halozyme Therapeutics, Inc. (NASDAQ:HALO), Aircastle Limited (NYSE:AYR), and FCB Financial Holdings Inc (NYSE:FCB). This group of stocks’ market values match CIGI’s market value.

As you can see these stocks had an average of 16 investors with long positions and the average amount invested in these stocks was $127 million, compared to $109 million in CIGI’s case. FCB Financial Holdings Inc (NYSE:FCB) is the most popular stock in this table, while Aircastle Limited (NYSE:AYR) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Colliers International Group Inc (NASDAQ:CIGI) is even less popular than Aircastle Limited (NYSE:AYR). Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: none