Pioneer Investment Management Inc. Cuts Position in CoStar Group, Inc. (CSGP)
Pioneer Investment Management Inc. lowered its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 106,346 shares of the technology company’s stock after selling 417 shares during the period. Pioneer Investment Management Inc.’s holdings in CoStar Group were worth $28,033,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CSGP. Dimensional Fund Advisors LP boosted its stake in shares of CoStar Group by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 69,826 shares of the technology company’s stock worth $13,161,000 after buying an additional 1,640 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of CoStar Group by 62.8% in the fourth quarter. Guggenheim Capital LLC now owns 2,910 shares of the technology company’s stock worth $549,000 after buying an additional 1,123 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of CoStar Group by 155.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 64,328 shares of the technology company’s stock worth $12,125,000 after buying an additional 39,105 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of CoStar Group by 8.6% in the fourth quarter. Teachers Advisors LLC now owns 29,547 shares of the technology company’s stock worth $5,569,000 after buying an additional 2,328 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of CoStar Group by 56.2% in the fourth quarter. Macquarie Group Ltd. now owns 4,560 shares of the technology company’s stock worth $860,000 after buying an additional 1,640 shares in the last quarter.
Shares of CoStar Group, Inc. (CSGP) opened at 281.18 on Thursday. The stock has a 50 day moving average of $271.96 and a 200-day moving average of $235.94. The stock has a market capitalization of $9.23 billion, a PE ratio of 94.39 and a beta of 1.51. CoStar Group, Inc. has a 52 week low of $179.22 and a 52 week high of $284.47.
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 consensus estimate of $0.63 by $0.23. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. The business had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $234.38 million. During the same period in the previous year, the business posted $0.91 EPS. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts expect that CoStar Group, Inc. will post $4.49 EPS for the current year.
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A number of analysts have commented on CSGP shares. Zacks Investment Research raised shares of CoStar Group from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. B. Riley reaffirmed a “buy” rating and set a $275.00 target price on shares of CoStar Group in a report on Friday, April 28th. Finally, Needham & Company LLC upped their target price on shares of CoStar Group from $235.00 to $275.00 and gave the company a “buy” rating in a report on Friday, April 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. CoStar Group presently has an average rating of “Buy” and a consensus target price of $309.50.
In other CoStar Group news, Director Michael R. Klein sold 20,000 shares of CoStar Group stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $265.01, for a total transaction of $5,300,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew Linnington sold 1,767 shares of CoStar Group stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $273.15, for a total transaction of $482,656.05. The disclosure for this sale can be found here. Insiders own 2.98% of the company’s stock.
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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