Seven Eight Capital LP Invests $606,000 in CoStar Group, Inc. (NASDAQ:CSGP)

Seven Eight Capital LP purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGPFree Report) in the third quarter, HoldingsChannel reports. The institutional investor purchased 7,881 shares of the technology company’s stock, valued at approximately $606,000.

A number of other large investors also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of CoStar Group by 111.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 15,683 shares of the technology company’s stock valued at $1,045,000 after purchasing an additional 8,253 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of CoStar Group by 504.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,874 shares of the technology company’s stock valued at $125,000 after purchasing an additional 1,564 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of CoStar Group in the first quarter valued at $1,427,000. Panagora Asset Management Inc. raised its stake in shares of CoStar Group by 10.6% in the first quarter. Panagora Asset Management Inc. now owns 12,007 shares of the technology company’s stock valued at $800,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of CoStar Group by 32.3% in the first quarter. Raymond James Trust N.A. now owns 5,884 shares of the technology company’s stock valued at $392,000 after purchasing an additional 1,435 shares in the last quarter. 96.53% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Price Performance

CoStar Group stock opened at $86.11 on Friday. The business’s 50-day simple moving average is $83.89 and its 200 day simple moving average is $81.93. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 93.60, a P/E/G ratio of 10.00 and a beta of 0.83. CoStar Group, Inc. has a 12-month low of $65.12 and a 12-month high of $92.36. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGPGet Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million for the quarter, compared to analysts’ expectations of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. As a group, research analysts anticipate that CoStar Group, Inc. will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CSGP. BMO Capital Markets dropped their price objective on CoStar Group from $84.00 to $79.00 and set a “market perform” rating for the company in a research note on Thursday, February 22nd. The Goldman Sachs Group decreased their target price on CoStar Group from $98.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. JMP Securities decreased their target price on CoStar Group from $90.00 to $85.00 and set a “market outperform” rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and set a $95.00 target price on shares of CoStar Group in a report on Wednesday, February 21st. Finally, BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $91.80.

Check Out Our Latest Stock Analysis on CoStar Group

CoStar Group Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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