CoStar Group, Inc. (NASDAQ:CSGP) Given Average Recommendation of “Moderate Buy” by Brokerages

CoStar Group, Inc. (NASDAQ:CSGP) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $93.25.

CSGP has been the topic of several recent research reports. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday. Bank of America dropped their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Needham & Company LLC reduced their price target on shares of CoStar Group from $107.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods decreased their price target on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th.

Insider Activity

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Institutional Investors Weigh In On CoStar Group

Large investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC raised its position in shares of CoStar Group by 4.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock worth $242,000 after acquiring an additional 112 shares in the last quarter. Picton Mahoney Asset Management increased its stake in 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 purchasing an additional 135 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in CoStar Group by 1.6% during the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after purchasing an additional 138 shares in the last quarter. Redmond Asset Management LLC boosted its holdings in shares of CoStar Group by 0.9% in the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after buying an additional 169 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its position in shares of CoStar Group by 0.5% in the 2nd 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 buying an additional 172 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Down 1.4 %

Shares of NASDAQ CSGP opened at $73.24 on Wednesday. The stock has a market cap of $30.03 billion, a PE ratio of 166.46 and a beta of 0.81. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a 50-day moving average of $76.41 and a 200 day moving average of $78.57.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that CoStar Group will post 0.52 EPS for the current fiscal year.

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.