Amalgamated Bank Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Amalgamated Bank trimmed its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,365 shares of the technology company’s stock after selling 3,646 shares during the period. Amalgamated Bank’s holdings in CoStar Group were worth $6,107,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in CoStar Group in the 1st quarter worth $31,000. Riverview Trust Co purchased a new stake in shares of CoStar Group during the first quarter worth about $35,000. RiverPark Advisors LLC bought a new stake in CoStar Group during the 1st quarter valued at approximately $37,000. Connectus Wealth LLC lifted its holdings in CoStar Group by 915.0% in the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in CoStar Group in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $77.37 on Friday. The stock has a 50 day moving average price of $76.32 and a 200-day moving average price of $81.96. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The stock has a market cap of $31.59 billion, a price-to-earnings ratio of 105.99, a price-to-earnings-growth ratio of 11.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27.

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

Analysts Set New Price Targets

CSGP has been the topic of several recent analyst reports. Bank of America reduced their price objective on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research note on Tuesday. The Goldman Sachs Group cut their price objective on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.