L & S Advisors Inc Takes Position in CoStar Group, Inc. (CSGP)
L & S Advisors Inc bought a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,405 shares of the technology company’s stock, valued at approximately $634,000.
Several other large investors also recently made changes to their positions in the stock. State of Wisconsin Investment Board grew its holdings in CoStar Group by 33.7% during the second quarter. State of Wisconsin Investment Board now owns 27,761 shares of the technology company’s stock worth $7,318,000 after buying an additional 7,000 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in CoStar Group in the 1st quarter valued at $1,160,000. Legal & General Group Plc raised its position in CoStar Group by 46.5% in the 1st quarter. Legal & General Group Plc now owns 30,209 shares of the technology company’s stock valued at $6,260,000 after buying an additional 9,589 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in CoStar Group by 13.9% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,324 shares of the technology company’s stock valued at $2,458,000 after buying an additional 1,135 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in CoStar Group by 275.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,797 shares of the technology company’s stock valued at $580,000 after buying an additional 2,053 shares during the last quarter. 99.84% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the company. BidaskClub cut CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Needham & Company LLC upped their target price on shares of CoStar Group from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $289.00 target price for the company in a research note on Wednesday, June 7th. B. Riley reiterated a “buy” rating and issued a $335.00 target price on shares of CoStar Group in a report on Friday, July 28th. Finally, Stephens reiterated an “overweight” rating and issued a $275.00 target price (up previously from $260.00) on shares of CoStar Group in a report on Monday, June 19th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $313.67.
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Shares of CoStar Group, Inc. (NASDAQ CSGP) traded up 0.64% during mid-day trading on Monday, hitting $269.96. The company had a trading volume of 71,222 shares. The firm has a 50-day moving average price of $280.46 and a 200-day moving average price of $251.76. The firm has a market capitalization of $8.86 billion, a PE ratio of 90.62 and a beta of 1.52. CoStar Group, Inc. has a 52 week low of $179.22 and a 52 week high of $287.96.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.23. The company had revenue of $237.20 million for the quarter, compared to the consensus estimate of $234.38 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. CoStar Group’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. Equities analysts forecast that CoStar Group, Inc. will post $4.48 earnings per share for the current year.
In other news, VP Matthew Linnington sold 1,767 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total value of $482,656.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.98% of the stock is currently owned by insiders.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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