CoStar Group’s (CSGP) Overweight Rating Reaffirmed at Stephens

Stephens reaffirmed their overweight rating on shares of CoStar Group (NASDAQ:CSGP) in a report released on Thursday,Benzinga reports. They currently have a $103.00 price target on the technology company’s stock.

CSGP has been the subject of several other research reports. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research report on Monday, December 9th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, October 28th. JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Citigroup lowered their target price on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average target price of $93.08.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $70.83 on Thursday. The stock has a market cap of $29.04 billion, a price-to-earnings ratio of 160.98 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock has a 50 day moving average price of $75.33 and a 200-day moving average price of $75.49. CoStar Group has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same period in the previous year, the firm earned $0.25 earnings per share. CoStar Group’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts expect that CoStar Group will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoStar Group

A number of large investors have recently made changes to their positions in CSGP. Rothschild Investment LLC acquired a new position in CoStar Group during the 2nd quarter valued at about $73,000. Oregon Public Employees Retirement Fund increased its position in shares of CoStar Group by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company’s stock valued at $2,600,000 after acquiring an additional 210 shares during the period. Mattern Capital Management LLC increased its holdings in shares of CoStar Group by 39.8% in the second quarter. Mattern Capital Management LLC now owns 6,149 shares of the technology company’s stock valued at $456,000 after purchasing an additional 1,751 shares during the period. TD Asset Management Inc raised its position in CoStar Group by 2.8% during the 2nd quarter. TD Asset Management Inc now owns 468,128 shares of the technology company’s stock worth $34,707,000 after buying an additional 12,635 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in CoStar Group by 58.1% during the 2nd quarter. Private Advisor Group LLC now owns 10,048 shares of the technology company’s stock valued at $745,000 after acquiring an additional 3,691 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Company 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.