Centaurus Financial Inc. Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

Centaurus Financial Inc. lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 206.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,842 shares of the technology company's stock after acquiring an additional 14,042 shares during the period. Centaurus Financial Inc.'s holdings in CoStar Group were worth $1,572,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CSGP. Picton Mahoney Asset Management lifted its holdings in shares of CoStar Group by 2.9% during the 2nd 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 increased its position in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company's stock valued at $652,000 after buying an additional 138 shares in the last quarter. Moran Wealth Management LLC raised its stake in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company's stock valued at $606,000 after buying an additional 161 shares during the last quarter. S.E.E.D. Planning Group LLC boosted its holdings in CoStar Group by 0.5% in the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company's stock worth $2,688,000 after acquiring an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co grew its stake in shares of CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company's stock worth $2,780,000 after acquiring an additional 188 shares during the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on CSGP shares. Citigroup decreased their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. BMO Capital Markets lowered 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. JMP Securities reissued a "market outperform" rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada downgraded CoStar Group from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.25.

CoStar Group Price Performance

Shares of CoStar Group stock traded up $0.47 during mid-day trading on Monday, reaching $80.28. 3,042,744 shares of the stock traded hands, compared to its average volume of 2,404,274. The stock has a market capitalization of $32.91 billion, a PE ratio of 182.45 and a beta of 0.82. The business has a 50-day moving average of $75.54 and a 200 day moving average of $76.71. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter last year, the firm posted $0.25 EPS. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

Insider Buying and Selling

In related news, CEO Andrew C. Florance bought 14,731 shares of the business's stock in a transaction on Friday, October 25th. The stock was acquired at an average cost 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 of the company's stock, valued at $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 1,913,501 shares of the company's stock, valued at $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 currently owned by company insiders.

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.