CoStar Group, Inc. (NASDAQ:CSGP - Get Free Report) was the target of unusually large options trading activity on Wednesday. Traders bought 3,531 put options on the stock. This represents an increase of approximately 129% compared to the typical volume of 1,541 put options.
CoStar Group Stock Performance
NASDAQ:CSGP traded up $3.61 during mid-day trading on Wednesday, reaching $73.22. The stock had a trading volume of 3,786,562 shares, compared to its average volume of 2,628,151. 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 firm has a market capitalization of $30.02 billion, a price-to-earnings ratio of 166.41 and a beta of 0.85. CoStar Group has a twelve month low of $68.26 and a twelve month high of $100.38. The business has a 50 day simple moving average of $74.83 and a 200 day simple moving average of $75.36.
CoStar Group (NASDAQ:CSGP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $692.60 million during the quarter, compared to the consensus estimate of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. On average, analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.
Analyst Ratings Changes
CSGP has been the topic of several recent analyst reports. Citigroup dropped their target price on CoStar Group from $90.00 to $88.00 and set a "buy" rating on the stock in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of CoStar Group in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. Finally, StockNews.com lowered CoStar Group from a "hold" rating to a "sell" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.92.
View Our Latest Stock Analysis on CoStar Group
Insiders Place Their Bets
In related news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on 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 of the company's stock, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.57% of the company's stock.
Institutional Investors Weigh In On CoStar Group
Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC lifted its position in shares of CoStar Group by 534.8% during the 4th quarter. ORG Partners LLC now owns 419 shares of the technology company's stock valued at $30,000 after acquiring an additional 353 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group during the 3rd quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of CoStar Group during the 2nd quarter valued at approximately $54,000. Brooklyn Investment Group purchased a new position in shares of CoStar Group during the 3rd quarter worth approximately $91,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of CoStar Group by 55.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company's stock worth $104,000 after purchasing an additional 488 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.
CoStar Group Company Profile
(
Get 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.
Read More
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
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.