Quantbot Technologies LP reduced its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP - Free Report) by 95.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,481 shares of the technology company's stock after selling 136,987 shares during the quarter. Quantbot Technologies LP's holdings in CoStar Group were worth $489,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management lifted its stake in CoStar Group by 2.9% in the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company's stock worth $352,000 after acquiring an additional 135 shares during the period. Bleakley Financial Group LLC lifted its position in shares of CoStar Group by 1.6% during the third 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 during the last quarter. Moran Wealth Management LLC lifted its position in shares of CoStar Group by 2.0% during 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 lifted its position in shares of CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company's stock valued at $2,688,000 after buying an additional 172 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its position 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 valued at $2,780,000 after buying an additional 188 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.
CoStar Group Stock Performance
Shares of NASDAQ CSGP traded down $0.40 during midday trading on Wednesday, reaching $79.75. 2,079,100 shares of the stock were exchanged, compared to its average volume of 2,384,878. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 181.25 and a beta of 0.83. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The firm has a 50-day simple moving average of $76.11 and a two-hundred day simple moving average of $76.42. 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 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. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm 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 business's revenue was up 10.9% on a year-over-year basis. As a group, analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have commented on the stock. StockNews.com lowered shares of CoStar Group from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. JMP Securities reissued a "market outperform" rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Royal Bank of Canada lowered shares of 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 report on Wednesday, October 23rd. Citigroup cut their price objective on shares of CoStar Group from $97.00 to $90.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Finally, BMO Capital Markets cut their price objective on shares of CoStar Group from $78.00 to $75.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.25.
View Our Latest Research Report on CSGP
Insiders Place Their Bets
In other news, Director Michael R. Klein sold 71,633 shares of CoStar Group 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 owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares of the company's stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.57% of the company's stock.
About CoStar Group
(
Free Report)
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.
Further Reading
Before you consider CoStar Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CoStar Group wasn't on the list.
While CoStar Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.