Yorktown Management & Research Co Inc bought a new position in CoStar Group, Inc. (NASDAQ:CSGP – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,050 shares of the technology company’s stock, valued at approximately $282,000.
Several other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in shares of CoStar Group by 43.3% during the second quarter. Lazard Asset Management LLC now owns 493 shares of the technology company’s stock worth $29,000 after acquiring an additional 149 shares during the period. McIlrath & Eck LLC raised its holdings in shares of CoStar Group by 88.7% during the second quarter. McIlrath & Eck LLC now owns 717 shares of the technology company’s stock worth $43,000 after acquiring an additional 337 shares during the period. Harbor Investment Advisory LLC raised its holdings in shares of CoStar Group by 46.2% during the second quarter. Harbor Investment Advisory LLC now owns 731 shares of the technology company’s stock worth $44,000 after acquiring an additional 231 shares during the period. American National Bank acquired a new stake in shares of CoStar Group during the third quarter worth $51,000. Finally, Tobam acquired a new stake in shares of CoStar Group during the second quarter worth $73,000. 97.80% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
CSGP has been the subject of a number of analyst reports. Truist Financial raised their target price on shares of CoStar Group from $75.00 to $95.00 in a research report on Wednesday, October 26th. StockNews.com initiated coverage on shares of CoStar Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America reaffirmed a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research report on Friday, November 18th. The Goldman Sachs Group lifted their price objective on shares of CoStar Group from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, October 26th. Finally, Royal Bank of Canada lifted their price objective on shares of CoStar Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, October 5th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $90.75.
Insiders Place Their Bets
In other CoStar Group news, insider Michael J. Desmarais sold 1,296 shares of CoStar Group stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $82.81, for a total value of $107,321.76. Following the completion of the sale, the insider now owns 36,900 shares in the company, valued at approximately $3,055,689. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael J. Desmarais sold 1,296 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $82.81, for a total value of $107,321.76. Following the completion of the transaction, the insider now directly owns 36,900 shares in the company, valued at approximately $3,055,689. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Hill sold 3,650 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $78.92, for a total transaction of $288,058.00. Following the completion of the transaction, the director now owns 20,734 shares of the company’s stock, valued at $1,636,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.42% of the company’s stock.
CoStar Group Stock Performance
Shares of CSGP stock traded up $0.69 during midday trading on Monday, hitting $79.21. 217,510 shares of the company were exchanged, compared to its average volume of 1,408,158. CoStar Group, Inc. has a 52 week low of $49.00 and a 52 week high of $85.37. The company has a debt-to-equity ratio of 0.15, a quick ratio of 15.36 and a current ratio of 15.36. The firm’s 50 day moving average price is $79.34 and its two-hundred day moving average price is $74.54. The firm has a market capitalization of $32.21 billion, a P/E ratio of 91.30, a PEG ratio of 3.21 and a beta of 0.90.
CoStar Group (NASDAQ:CSGP – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. CoStar Group had a net margin of 15.97% and a return on equity of 7.26%. The business had revenue of $556.92 million during the quarter, compared to analysts’ expectations of $554.97 million. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 1.1 earnings per share for the current year.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.
Further Reading
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