American Capital Management Inc. increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 12.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 927,391 shares of the technology company's stock after buying an additional 104,317 shares during the quarter. CoStar Group comprises about 2.3% of American Capital Management Inc.'s holdings, making the stock its 16th largest position. American Capital Management Inc. owned approximately 0.23% of CoStar Group worth $69,962,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of CoStar Group by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company's stock worth $453,534,000 after acquiring an additional 124,761 shares during the period. Vulcan Value Partners LLC raised its holdings in CoStar Group by 90.1% during the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock worth $306,831,000 after purchasing an additional 1,961,917 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in CoStar Group by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company's stock valued at $202,509,000 after purchasing an additional 76,916 shares during the period. Mackenzie Financial Corp boosted its holdings in CoStar Group by 16.9% in the 2nd quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company's stock valued at $174,861,000 after purchasing an additional 341,046 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in CoStar Group by 0.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,096,255 shares of the technology company's stock valued at $158,141,000 after purchasing an additional 9,999 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company's stock.
CoStar Group Price Performance
CoStar Group stock traded down $0.63 during mid-day trading on Friday, hitting $81.34. 1,062,956 shares of the company were exchanged, compared to its average volume of 2,574,534. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company has a market capitalization of $33.35 billion, a P/E ratio of 184.87 and a beta of 0.82. CoStar Group, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The business's 50 day simple moving average is $75.86 and its two-hundred day simple moving average is $76.50.
CoStar Group (NASDAQ:CSGP - Get Free Report) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm's quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on CSGP shares. StockNews.com downgraded CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. Citigroup reduced their target price on CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, October 24th. JMP Securities restated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. cut their price target on shares of CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a report on Wednesday, October 23rd. Finally, BMO Capital Markets reduced their price objective on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.25.
Check Out Our Latest Stock Analysis on CoStar Group
Insider Buying and Selling
In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on 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 sale, the insider now owns 58,798 shares of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.
About CoStar Group
(
Free Report)
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.
Further Reading
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