Why is Colliers International Group Inc (CIGI) Stock down?

We've noticed a 5.94% decline in Colliers International Group Inc (CIGI) stock during the 2024-02-23 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
03 Jan, 2024:

Colliers International Group Inc (CIGI) stock dropped by 5.68% due to the announcement of Ceredex Value Advisors LLC to reduce its stake in the company by 38.2% during the third quarter. Ceredex Value Advisors LLC now owns 0.23% of Colliers International Group's stock. Other institutional investors also made changes to their holdings in CIGI. Bank of Montreal Can, Durable Capital Partners LP, Norges Bank, Jarislowsky Fraser Ltd, and Millennium Management LLC adjusted their positions in the company. In total, institutional investors now own about 63.93% of Colliers International Group's stock. The stock's decline reflects the impact of these institutional investors' actions on the company's ownership structure and overall market dynamics.

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