CoStar Group, Inc. (NASDAQ:CSGP) Stake Boosted by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 90.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,583 shares of the technology company’s stock after buying an additional 2,177 shares during the quarter. GAMMA Investing LLC’s holdings in CoStar Group were worth $346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concurrent Investment Advisors LLC raised its holdings in shares of CoStar Group by 4.7% during the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after acquiring an additional 112 shares during the period. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares during the period. Redmond Asset Management LLC lifted its holdings in shares of CoStar Group by 0.9% in the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after purchasing an additional 169 shares in the last quarter. S.E.E.D. Planning Group LLC boosted its position in shares of CoStar Group by 0.5% in the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock worth $2,688,000 after buying an additional 172 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its holdings in shares of CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after buying an additional 188 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $75.70 on Thursday. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 103.70 and a beta of 0.81. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The firm has a fifty day simple moving average of $75.92 and a 200-day simple moving average of $80.49.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same period in the previous year, the company posted $0.27 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Analyst Ratings Changes

CSGP has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $96.00 price objective on shares of CoStar Group in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their target price on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Four 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 an average rating of “Moderate Buy” and a consensus target price of $96.38.

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.