IHT Wealth Management LLC Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

IHT Wealth Management LLC grew its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 16.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,074 shares of the technology company’s stock after acquiring an additional 565 shares during the quarter. IHT Wealth Management LLC’s holdings in CoStar Group were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in CoStar Group during the 3rd quarter worth $40,000. Telemark Asset Management LLC raised its stake in shares of CoStar Group by 42.9% during the 3rd quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after purchasing an additional 150,000 shares during the period. Swedbank AB raised its stake in shares of CoStar Group by 469.3% during the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after purchasing an additional 204,474 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of CoStar Group by 16.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the period. Finally, KBC Group NV raised its stake in shares of CoStar Group by 14.7% during the 3rd quarter. KBC Group NV now owns 83,823 shares of the technology company’s stock worth $6,324,000 after purchasing an additional 10,730 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Stock Up 1.7 %

Shares of CSGP opened at $78.65 on Tuesday. The firm has a market cap of $32.24 billion, a P/E ratio of 178.75 and a beta of 0.83. The stock has a 50 day simple moving average of $76.26 and a two-hundred day simple moving average of $76.15. 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, Inc. has a 1 year low of $68.26 and a 1 year high of $100.38.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSGP. Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets lowered their price objective on 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. JMP Securities restated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Monday. Finally, JPMorgan Chase & Co. reduced their target price on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

Insider Buying and Selling at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew C. Florance acquired 14,731 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.57% of the company’s stock.

CoStar Group 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.