CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Update

CoStar Group, Inc. (NASDAQ:CSGP) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 12,700,000 shares, an increase of 8.1% from the December 31st total of 11,750,000 shares. Based on an average daily trading volume, of 2,840,000 shares, the days-to-cover ratio is currently 4.5 days.

CoStar Group Stock Up 0.1 %

Shares of NASDAQ CSGP opened at $76.91 on Tuesday. The company’s 50 day moving average price is $74.67 and its 200-day moving average price is $75.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. CoStar Group has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a market capitalization of $31.53 billion, a P/E ratio of 174.73 and a beta of 0.87.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CSGP shares. Stephens reaffirmed an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a report on Wednesday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a report on Monday, December 16th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a research report on Monday, January 6th. BMO Capital Markets dropped 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. Finally, Keefe, Bruyette & Woods cut their target price on CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and an average target price of $92.33.

Insider Buying and Selling

In other news, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at $4,696,784.24. The trade was a 8.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds have recently bought and sold shares of CSGP. Bleakley Financial Group LLC increased 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 buying an additional 138 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after buying an additional 161 shares in the last quarter. Allworth Financial LP raised its holdings in shares of CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock worth $144,000 after acquiring an additional 173 shares during the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of CoStar Group by 2.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in CoStar Group by 1.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares during the last quarter. Institutional investors own 96.60% of the company’s stock.

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.