Moran Wealth Management LLC Purchases 161 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Moran Wealth Management LLC grew its position in CoStar Group, Inc. (NASDAQ:CSGP) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,027 shares of the technology company’s stock after acquiring an additional 161 shares during the quarter. Moran Wealth Management LLC’s holdings in CoStar Group were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in CoStar Group during the third quarter valued at $40,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of CoStar Group during the 2nd quarter valued at about $49,000. Quarry LP purchased a new stake in shares of CoStar Group during the 2nd quarter valued at about $54,000. Rothschild Investment LLC purchased a new position in CoStar Group in the second quarter worth about $73,000. Finally, Blue Trust Inc. grew its position in CoStar Group by 493.4% in the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after acquiring an additional 898 shares in the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The stock was bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the purchase, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was 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 equities research analysts have recently issued reports on CSGP shares. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a report on Tuesday. BMO Capital Markets cut their price target 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. Finally, Citigroup decreased their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued 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 an average target price of $93.25.

CoStar Group Stock Performance

CSGP stock opened at $79.81 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The business has a 50-day moving average price of $75.49 and a 200 day moving average price of $76.99. The company has a market capitalization of $32.72 billion, a P/E ratio of 181.39 and a beta of 0.82. 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 (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 EPS. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal 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.