Teachers Retirement System of The State of Kentucky Trims Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,419 shares of the technology company’s stock after selling 896 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in CoStar Group were worth $11,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in CoStar Group during the first quarter valued at $31,000. Riverview Trust Co purchased a new position in shares of CoStar Group during the 1st quarter valued at about $35,000. RiverPark Advisors LLC bought a new position in shares of CoStar Group during the 1st quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter worth approximately $49,000. Finally, Covestor Ltd lifted its holdings in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock valued at $68,000 after purchasing an additional 211 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

CoStar Group Trading Down 1.0 %

CSGP stock opened at $74.65 on Wednesday. The firm has a fifty day moving average price of $76.29 and a 200 day moving average price of $81.25. 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. The firm has a market cap of $30.59 billion, a PE ratio of 102.26 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last posted its earnings results 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 firm had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CSGP shares. Robert W. Baird decreased their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Bank of America lowered their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and set a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. StockNews.com raised CoStar Group from a “sell” rating to a “hold” rating in a report on Friday, September 27th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CoStar Group currently has an average rating of “Moderate Buy” and an average target price of $96.38.

About CoStar Group

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.