CoStar Group (NASDAQ:CSGP) Upgraded by StockNews.com to Hold Rating

CoStar Group (NASDAQ:CSGP) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

CSGP has been the topic of several other research reports. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research report on Monday, December 16th. BMO Capital Markets reduced their target price on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Stephens restated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research note on Thursday, January 2nd. Finally, Citigroup decreased their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.08.

CoStar Group Stock Up 1.4 %

NASDAQ CSGP opened at $71.34 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. CoStar Group has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market capitalization of $29.25 billion, a PE ratio of 162.14 and a beta of 0.85. The business has a fifty day moving average price of $75.12 and a two-hundred day moving average price of $75.45.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.25 earnings per share. Equities analysts expect that CoStar Group will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In other CoStar Group 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 transaction of $439,340.00. Following the sale, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew C. Florance bought 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The stock was bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the purchase, the chief executive officer now owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

Institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its stake in CoStar Group by 58.1% during the second quarter. Private Advisor Group LLC now owns 10,048 shares of the technology company’s stock worth $745,000 after purchasing an additional 3,691 shares during the last quarter. Acadian Asset Management LLC bought a new stake in CoStar Group during the 2nd quarter valued at approximately $816,000. Caprock Group LLC bought a new stake in shares of CoStar Group during the second quarter valued at approximately $223,000. Quest Partners LLC grew its position in shares of CoStar Group by 42,150.0% in the 2nd quarter. Quest Partners LLC now owns 5,070 shares of the technology company’s stock worth $376,000 after buying an additional 5,058 shares during the period. Finally, Choreo LLC purchased a new stake in CoStar Group in the second quarter worth about $761,000. 96.60% of the stock is currently owned by institutional investors.

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.