Bamco Inc. NY Trims Position in CoStar Group, Inc. (NASDAQ:CSGP)

Bamco Inc. NY lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,785,436 shares of the technology company's stock after selling 485,562 shares during the quarter. CoStar Group comprises 3.8% of Bamco Inc. NY's portfolio, making the stock its 4th largest position. Bamco Inc. NY owned about 4.58% of CoStar Group worth $1,417,173,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Vulcan Value Partners LLC increased its position in shares of CoStar Group by 90.1% in the 2nd 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 during the last quarter. Select Equity Group L.P. bought a new stake in CoStar Group in the second quarter valued at about $60,761,000. Renaissance Technologies LLC acquired a new stake in CoStar Group during the second quarter valued at approximately $46,692,000. Jupiter Asset Management Ltd. bought a new position in CoStar Group during the 2nd quarter worth approximately $34,987,000. Finally, Icon Wealth Advisors LLC increased its holdings in shares of CoStar Group by 8,314.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 409,934 shares of the technology company's stock valued at $30,925,000 after acquiring an additional 405,062 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Down 0.8 %

Shares of NASDAQ:CSGP traded down $0.63 on Monday, reaching $81.34. The company had a trading volume of 1,062,956 shares, compared to its average volume of 2,393,539. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $33.35 billion, a P/E ratio of 184.87 and a beta of 0.82. The stock has a 50-day moving average price of $75.86 and a 200 day moving average price of $76.50. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38.

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 firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. On average, equities analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and issued a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, Citigroup cut their price objective on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. One investment 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.25.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the firm'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 transaction of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. The trade was 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.

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.