Citadel Advisors LLC Cuts Position in CoStar Group, Inc. (CSGP)
Citadel Advisors LLC cut its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 34.2% during the third quarter, Holdings Channel reports. The institutional investor owned 24,288 shares of the company’s stock after selling 12,613 shares during the period. Citadel Advisors LLC owned approximately 0.07% of CoStar Group worth $5,259,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA acquired a new position in CoStar Group during the third quarter worth $103,000. Penserra Capital Management LLC raised its position in CoStar Group by 100.0% in the third quarter. Penserra Capital Management LLC now owns 576 shares of the company’s stock worth $124,000 after buying an additional 288 shares during the period. Quantbot Technologies LP acquired a new position in CoStar Group during the third quarter worth $156,000. Quadrature Capital Ltd acquired a new position in CoStar Group during the second quarter worth $203,000. Finally, World Asset Management Inc acquired a new position in CoStar Group during the third quarter worth $280,000.
CoStar Group, Inc. (NASDAQ:CSGP) traded up 1.35% during mid-day trading on Friday, reaching $200.37. 69,132 shares of the company traded hands. The stock has a 50-day moving average of $191.54 and a 200 day moving average of $204.64. The stock has a market capitalization of $6.53 billion, a PE ratio of 82.56 and a beta of 1.29. CoStar Group, Inc. has a 52-week low of $146.53 and a 52-week high of $224.79.
CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.03 by $0.08. The business had revenue of $213 million for the quarter, compared to analyst estimates of $44.83 million. CoStar Group had a net margin of 9.66% and a return on equity of 6.90%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. Equities research analysts expect that CoStar Group, Inc. will post $4.23 earnings per share for the current year.
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A number of research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $240.00 target price on shares of CoStar Group in a research note on Friday, September 30th. B. Riley reaffirmed a “buy” rating and set a $231.00 price target on shares of CoStar Group in a research report on Thursday, October 27th. Citigroup Inc. started coverage on shares of CoStar Group in a research report on Tuesday, December 20th. They set a “buy” rating on the stock. Finally, TheStreet lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $236.20.
In related news, VP Matthew Linnington sold 1,060 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $188.31, for a total transaction of $199,608.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher J. Nassetta sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $187.67, for a total transaction of $107,910.25. The disclosure for this sale can be found here. 2.98% of the stock is currently owned by insiders.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France.
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