Marks Group Wealth Management Inc Trims Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Marks Group Wealth Management Inc cut its position in CoStar Group, Inc. (NASDAQ:CSGP) by 3.5% in the third quarter, Holdings Channel reports. The firm owned 6,241 shares of the technology company’s stock after selling 226 shares during the period. Marks Group Wealth Management Inc’s holdings in CoStar Group were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CSGP. Concurrent Investment Advisors LLC raised its holdings in shares of CoStar Group by 4.7% in the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after buying an additional 112 shares during the last quarter. Picton Mahoney Asset Management raised its stake in CoStar Group by 2.9% during the 2nd quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares during the last quarter. Bleakley Financial Group LLC raised its stake in CoStar Group by 1.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after acquiring an additional 138 shares during the last quarter. Redmond Asset Management LLC lifted its position in CoStar Group by 0.9% during the 1st quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock worth $1,804,000 after acquiring an additional 169 shares during the period. Finally, S.E.E.D. Planning Group LLC increased its holdings in shares of CoStar Group by 0.5% in the second 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. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction that occurred on 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 directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets dropped their price objective on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Keefe, Bruyette & Woods cut their target price on CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on shares of CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Stock Down 0.6 %

CSGP opened at $74.87 on Thursday. The business’s fifty day simple moving average is $76.07 and its 200 day simple moving average is $78.13. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm has a market cap of $30.69 billion, a P/E ratio of 170.16 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data 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 business had revenue of $692.60 million during 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 revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, equities research analysts anticipate that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

CoStar Group Company Profile

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.