Los Angeles Capital Management LLC Buys Shares of 57,837 CoStar Group, Inc. (NASDAQ:CSGP)

Los Angeles Capital Management LLC acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 57,837 shares of the technology company's stock, valued at approximately $4,363,000.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of CoStar Group by 54.7% during the 1st quarter. Empowered Funds LLC now owns 6,874 shares of the technology company's stock valued at $664,000 after purchasing an additional 2,431 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of CoStar Group by 4.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company's stock worth $242,000 after acquiring an additional 112 shares during the period. QRG Capital Management Inc. raised its stake in shares of CoStar Group by 8.2% during the 1st quarter. QRG Capital Management Inc. now owns 16,222 shares of the technology company's stock worth $1,567,000 after buying an additional 1,225 shares during the last quarter. Russell Investments Group Ltd. lifted its position in CoStar Group by 16.1% during the first quarter. Russell Investments Group Ltd. now owns 401,314 shares of the technology company's stock worth $38,750,000 after buying an additional 55,763 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new position in shares of CoStar Group in the 1st quarter valued at $217,000. Hedge funds and other institutional investors own 96.60% of the company's stock.

CoStar Group Stock Performance

CSGP traded up $0.36 during midday trading on Wednesday, hitting $75.77. 1,736,636 shares of the company traded hands, compared to its average volume of 2,377,618. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company's 50-day moving average is $76.02 and its 200 day moving average is $77.70. 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 firm has a market capitalization of $31.06 billion, a PE ratio of 172.66 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 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million during the quarter, compared to analysts' expectations of $695.91 million. During the same quarter in the prior year, the company earned $0.25 EPS. The company's revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts 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. Royal Bank of Canada lowered CoStar Group from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on CoStar Group from $108.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. Citigroup reduced their price target on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Finally, JMP Securities reiterated a "market outperform" rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, CoStar Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.

Insider Activity at CoStar Group

In related news, CEO Andrew C. Florance bought 14,731 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company's stock, valued at approximately $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CoStar Group news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 $142,919,389.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company's stock.

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.