Los Angeles Capital Management LLC Buys New Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Los Angeles Capital Management LLC purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 57,837 shares of the technology company’s stock, valued at approximately $4,363,000.

Several other institutional investors and hedge funds have also bought and sold shares of CSGP. Crewe Advisors LLC purchased a new position in CoStar Group during the first quarter valued at approximately $31,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group during the 2nd quarter valued at approximately $49,000. Quarry LP acquired a new position in shares of CoStar Group in the 2nd quarter valued at $54,000. Covestor Ltd boosted its holdings in CoStar Group by 43.0% during the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after buying an additional 211 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in CoStar Group during the second quarter valued at $73,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSGP has been the subject of a number of analyst reports. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Robert W. Baird dropped their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, BMO Capital Markets cut 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 report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group presently has an average rating of “Moderate Buy” and an average target price of $93.25.

Insider Transactions at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CoStar Group news, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the sale, the director now directly owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Stock Performance

NASDAQ:CSGP opened at $75.41 on Wednesday. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $76.03 and its 200-day simple moving average is $77.82. CoStar Group, Inc. has a fifty-two week low of $68.26 and a fifty-two week high of $100.38. The stock has a market cap of $30.92 billion, a PE ratio of 172.43 and a beta of 0.82.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts expect that CoStar Group, Inc. will post 0.52 earnings per share 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.