Kornitzer Capital Management Inc. KS Has $24.04 Million Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Kornitzer Capital Management Inc. KS lifted its stake in CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 11.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318,616 shares of the technology company's stock after buying an additional 32,290 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.08% of CoStar Group worth $24,036,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vulcan Value Partners LLC boosted its position in shares of CoStar Group by 90.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company's stock valued at $306,831,000 after acquiring an additional 1,961,917 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in CoStar Group by 17.7% during the first quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company's stock valued at $1,140,650,000 after purchasing an additional 1,773,564 shares in the last quarter. Select Equity Group L.P. bought a new stake in shares of CoStar Group in the 2nd quarter valued at approximately $60,761,000. Renaissance Technologies LLC acquired a new position in shares of CoStar Group in the 2nd quarter worth approximately $46,692,000. Finally, Vanguard Group Inc. lifted its position in shares of CoStar Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company's stock worth $6,322,615,000 after buying an additional 541,700 shares during the period. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business's stock in a transaction dated 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 directly owns 1,913,501 shares of the company's stock, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction 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 completion of the sale, the director now owns 1,913,501 shares of the company's stock, valued at $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This 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.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CSGP. Keefe, Bruyette & Woods dropped their price objective on CoStar Group from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada cut 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 report on Wednesday, October 23rd. Robert W. Baird reduced their price objective on CoStar Group from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 24th. Needham & Company LLC lowered their target price on CoStar Group from $107.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group reduced their price target on shares of CoStar Group from $108.00 to $93.00 and set a "buy" rating on the stock in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.25.

CoStar Group Trading Up 1.9 %

NASDAQ CSGP traded up $1.43 on Thursday, reaching $76.30. The company had a trading volume of 2,602,599 shares, compared to its average volume of 2,377,111. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The stock's 50 day moving average is $76.07 and its 200-day moving average is $78.13. 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 cap of $31.28 billion, a price-to-earnings ratio of 174.28 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million during the quarter, compared to analysts' expectations 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 was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Equities analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

CoStar Group Company 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.