Pacer Advisors Inc. Raises Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Pacer Advisors Inc. boosted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 9.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 55,337 shares of the technology company’s stock after buying an additional 4,716 shares during the quarter. Pacer Advisors Inc.’s holdings in CoStar Group were worth $3,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in CoStar Group during the 3rd quarter valued at about $40,000. JPMorgan Chase & Co. lifted its holdings in shares of CoStar Group by 73.8% during the third quarter. JPMorgan Chase & Co. now owns 2,358,331 shares of the technology company’s stock valued at $177,913,000 after purchasing an additional 1,001,177 shares during the last quarter. Telemark Asset Management LLC boosted its position in shares of CoStar Group by 42.9% in 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 in the last quarter. Swedbank AB grew its stake in shares of CoStar Group by 469.3% in the 3rd quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock worth $18,712,000 after buying an additional 204,474 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in 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 valued at $7,812,000 after buying an additional 14,468 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Performance

CSGP stock opened at $76.52 on Friday. 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. The company has a market cap of $31.37 billion, a P/E ratio of 173.91 and a beta of 0.85. The stock’s fifty day moving average price is $74.75 and its 200-day moving average price is $75.41.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research note on Monday, December 16th. BMO Capital Markets cut 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 report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research note on Monday, December 9th. Citigroup dropped their target price on shares of CoStar Group from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of CoStar Group from $96.00 to $93.00 and set an “outperform” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.33.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.57% of the company’s stock.

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.