CoStar Group Inc (CSGP) Shares Sold by Quest Investment Management LLC
Quest Investment Management LLC lessened its position in CoStar Group Inc (NASDAQ:CSGP) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,220 shares of the technology company’s stock after selling 185 shares during the quarter. Quest Investment Management LLC’s holdings in CoStar Group were worth $2,567,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in CoStar Group by 10.1% during the 2nd quarter. Rhumbline Advisers now owns 40,249 shares of the technology company’s stock valued at $16,608,000 after buying an additional 3,679 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in CoStar Group by 8.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,085 shares of the technology company’s stock valued at $2,923,000 after buying an additional 528 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in CoStar Group by 9.5% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 4,906 shares of the technology company’s stock valued at $2,024,000 after buying an additional 426 shares in the last quarter. FineMark National Bank & Trust bought a new stake in shares of CoStar Group in the 2nd quarter worth $205,000. Finally, Wedbush Securities Inc. bought a new stake in shares of CoStar Group in the 2nd quarter worth $237,000. Institutional investors own 96.99% of the company’s stock.
A number of analysts have commented on CSGP shares. SunTrust Banks lifted their target price on CoStar Group to $435.00 and gave the stock a “buy” rating in a report on Tuesday, April 24th. JPMorgan Chase & Co. lifted their target price on CoStar Group from $350.00 to $353.00 and gave the stock an “underweight” rating in a report on Tuesday, April 24th. BidaskClub lowered CoStar Group from a “strong-buy” rating to a “buy” rating in a report on Friday, May 18th. Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $415.00 target price for the company in a report on Thursday, April 26th. Finally, Bank of America lifted their target price on CoStar Group from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. CoStar Group currently has an average rating of “Buy” and an average target price of $440.09.
CoStar Group opened at $428.61 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 82.27, a price-to-earnings-growth ratio of 3.62 and a beta of 1.47. CoStar Group Inc has a 12 month low of $255.41 and a 12 month high of $446.96.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 24th. The technology company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.35. The business had revenue of $229.90 million during the quarter, compared to analyst estimates of $293.55 million. CoStar Group had a return on equity of 7.25% and a net margin of 16.27%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. sell-side analysts expect that CoStar Group Inc will post 6.98 earnings per share for the current year.
About CoStar Group
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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