West Tower Group LLC Invests $302,000 in CoStar Group, Inc. (NASDAQ:CSGP)

West Tower Group LLC acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,000 shares of the technology company’s stock, valued at approximately $302,000.

Several other hedge funds have also bought and sold shares of the business. Picton Mahoney Asset Management grew its position in CoStar Group by 2.9% in the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after purchasing an additional 135 shares during the period. Bleakley Financial Group LLC grew its position in CoStar Group by 1.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after purchasing an additional 138 shares during the period. Moran Wealth Management LLC grew its position in CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after purchasing an additional 161 shares during the period. S.E.E.D. Planning Group LLC grew its position in CoStar Group by 0.5% in the 2nd 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 purchasing an additional 172 shares during the period. Finally, Elo Mutual Pension Insurance Co grew its position in CoStar Group by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after purchasing an additional 188 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Transactions at CoStar Group

In other news, CEO Andrew C. Florance acquired 14,731 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the purchase, 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 1.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael R. Klein sold 71,633 shares of the business’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 sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. 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. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a report on Tuesday, November 19th. Finally, Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.25.

CoStar Group Trading Up 0.6 %

NASDAQ CSGP opened at $80.28 on Tuesday. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 182.45 and a beta of 0.82. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The business’s fifty day moving average is $75.54 and its 200-day moving average is $76.71.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The company had revenue of $692.60 million for 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%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. Equities research analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current year.

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.