Picton Mahoney Asset Management Sells 550 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Picton Mahoney Asset Management decreased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 10.7% in the first quarter, HoldingsChannel reports. The firm owned 4,610 shares of the technology company’s stock after selling 550 shares during the quarter. Picton Mahoney Asset Management’s holdings in CoStar Group were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSGP. Concurrent Investment Advisors LLC grew 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 buying an additional 112 shares during the last quarter. Lindbrook Capital LLC boosted its stake in CoStar Group by 9.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,337 shares of the technology company’s stock valued at $129,000 after purchasing an additional 113 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in CoStar Group by 3.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,658 shares of the technology company’s stock valued at $320,000 after purchasing an additional 121 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in CoStar Group by 4.6% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,775 shares of the technology company’s stock valued at $243,000 after purchasing an additional 123 shares during the last quarter. Finally, Wealth Alliance boosted its stake in CoStar Group by 3.0% during the 4th quarter. Wealth Alliance now owns 4,539 shares of the technology company’s stock valued at $397,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on CSGP shares. JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of CoStar Group in a research note on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $109.00 target price on shares of CoStar Group in a research note on Friday, June 7th. BMO Capital Markets increased their target price on CoStar Group from $84.00 to $88.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Stephens reiterated an “overweight” rating and set a $105.00 target price on shares of CoStar Group in a research note on Wednesday, April 24th. Finally, William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.77.

CoStar Group Stock Performance

CoStar Group stock traded down $0.87 during trading on Friday, reaching $74.40. The company had a trading volume of 1,862,640 shares, compared to its average volume of 2,257,383. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The firm’s 50-day simple moving average is $78.27 and its 200 day simple moving average is $84.29. The firm has a market capitalization of $30.38 billion, a price-to-earnings ratio of 101.64, a price-to-earnings-growth ratio of 11.31 and a beta of 0.81. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. The company had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $649.27 million. Sell-side analysts forecast that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares in the company, valued at approximately $5,938,942.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the transaction, the chief financial officer now owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by company 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.