MQS Management LLC Buys Shares of 2,794 CoStar Group, Inc. (NASDAQ:CSGP)

MQS Management LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,794 shares of the technology company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSGP. Concurrent Investment Advisors LLC boosted its holdings in CoStar Group by 4.7% during the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after purchasing an additional 112 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of CoStar Group by 9.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after acquiring an additional 113 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares during the last quarter. Redmond Asset Management LLC raised its holdings in CoStar Group by 0.9% during the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after acquiring an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC boosted its position in CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after purchasing an additional 172 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Down 2.4 %

CSGP opened at $77.37 on Friday. The stock has a fifty day moving average of $76.32 and a 200-day moving average of $81.92. The company has a market capitalization of $31.59 billion, a P/E ratio of 105.99, a P/E/G ratio of 11.55 and a beta of 0.81. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. 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 issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The business had revenue of $677.80 million during the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts expect that CoStar Group, Inc. will post 0.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CSGP shares. Keefe, Bruyette & Woods cut their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a report on Friday, September 6th. Bank of America reduced their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Robert W. Baird dropped their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. One 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 stock has a consensus rating of “Moderate Buy” and an average target price of $96.38.

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.