Y Intercept Hong Kong Ltd Reduces Position in CoStar Group, Inc. (NASDAQ:CSGP)

Y Intercept Hong Kong Ltd reduced its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 81.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,518 shares of the technology company's stock after selling 87,914 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in CoStar Group were worth $1,472,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in CoStar Group in the 3rd quarter valued at $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter valued at $49,000. Quarry LP purchased a new stake in CoStar Group in the 2nd quarter valued at $54,000. Rothschild Investment LLC purchased a new stake in CoStar Group in the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. grew its holdings in CoStar Group by 493.4% in the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company's stock valued at $80,000 after buying an additional 898 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CSGP. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price target on shares of CoStar Group in a research note on Monday. JPMorgan Chase & Co. decreased their price target on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered CoStar Group from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Citigroup decreased their price target on CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

CoStar Group Stock Up 1.5 %

CSGP stock traded up $1.15 during mid-day trading on Wednesday, reaching $77.58. The company had a trading volume of 1,673,578 shares, compared to its average volume of 2,384,274. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The company has a market capitalization of $31.80 billion, a price-to-earnings ratio of 176.36 and a beta of 0.83. The firm has a fifty day simple moving average of $76.30 and a 200 day simple moving average of $76.08. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38.

CoStar Group (NASDAQ:CSGP - Get Free Report) last posted its quarterly 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 return on equity of 3.53% and a net margin of 6.57%. CoStar Group's revenue for the quarter was up 10.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. Analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling at CoStar Group

In other news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were 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 in the company, 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 corporate 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.