Meyer Handelman Co. Takes $266,000 Position in CoStar Group, Inc. (NASDAQ:CSGP)

Meyer Handelman Co. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,750 shares of the technology company’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Checchi Capital Advisers LLC raised its holdings in CoStar Group by 3.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock valued at $320,000 after acquiring an additional 121 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in CoStar Group by 4.6% in the fourth quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock valued at $243,000 after acquiring an additional 123 shares in the last quarter. KB Financial Partners LLC raised its holdings in CoStar Group by 17.9% in the third quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock valued at $63,000 after acquiring an additional 124 shares in the last quarter. Wealth Alliance raised its holdings in CoStar Group by 3.0% in the fourth quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock valued at $397,000 after acquiring an additional 132 shares in the last quarter. Finally, Regatta Capital Group LLC raised its holdings in CoStar Group by 1.5% in the fourth quarter. Regatta Capital Group LLC now owns 11,106 shares of the technology company’s stock valued at $971,000 after acquiring an additional 166 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSGP has been the topic of a number of research reports. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a report on Tuesday, June 18th. Jefferies Financial Group increased their target price on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Robert W. Baird increased their target price on shares of CoStar Group from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Stephens reissued an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

CoStar Group Stock Performance

Shares of CSGP opened at $73.94 on Friday. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $83.94 and a 200 day moving average price of $85.90. The firm has a market capitalization of $30.19 billion, a PE ratio of 101.29, a P/E/G ratio of 10.88 and a beta of 0.83.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $656.40 million during the quarter, compared to analyst estimates of $649.27 million. On average, sell-side analysts anticipate that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, CFO Scott T. Wheeler sold 122,736 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now directly owns 303,417 shares of the company’s stock, valued at $28,099,448.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now directly owns 64,087 shares of the company’s stock, valued at $5,938,942.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

CoStar Group Profile

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. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, 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.