Royal London Asset Management Ltd. Invests $6.14 Million in CoStar Group Inc (CSGP) Stock
Royal London Asset Management Ltd. bought a new position in shares of CoStar Group Inc (NASDAQ:CSGP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 14,878 shares of the technology company’s stock, valued at approximately $6,141,000.
A number of other institutional investors have also modified their holdings of the business. Summit Trail Advisors LLC boosted its holdings in shares of CoStar Group by 21,110.0% in the 1st quarter. Summit Trail Advisors LLC now owns 105,838 shares of the technology company’s stock valued at $106,000 after buying an additional 105,339 shares in the last quarter. Korea Investment CORP bought a new stake in shares of CoStar Group in the 1st quarter valued at about $109,000. Fort L.P. bought a new stake in shares of CoStar Group in the 2nd quarter valued at about $122,000. Signet Financial Management LLC bought a new stake in shares of CoStar Group in the 2nd quarter valued at about $152,000. Finally, Adviser Investments LLC bought a new stake in shares of CoStar Group in the 1st quarter valued at about $181,000. Institutional investors own 96.13% of the company’s stock.
A number of research firms have recently weighed in on CSGP. Needham & Company LLC raised their price target on shares of CoStar Group from $475.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, September 12th. Bank of America raised their price target on shares of CoStar Group from $420.00 to $470.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. SunTrust Banks raised their price target on shares of CoStar Group to $475.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Wells Fargo & Co restated an “outperform” rating and issued a $475.00 price target (up from $430.00) on shares of CoStar Group in a report on Wednesday, July 25th. Finally, BidaskClub cut shares of CoStar Group from a “buy” rating to a “hold” rating in a report on Saturday, September 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $442.36.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, July 24th. The technology company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.35. The firm had revenue of $229.90 million during the quarter, compared to analyst estimates of $293.55 million. CoStar Group had a net margin of 16.27% and a return on equity of 7.25%. CoStar Group’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. research analysts anticipate that CoStar Group Inc will post 6.98 earnings per share for the current fiscal year.
In related news, VP Matthew Linnington sold 4,384 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $411.93, for a total value of $1,805,901.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott T. Wheeler sold 4,700 shares of the stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $426.02, for a total transaction of $2,002,294.00. The disclosure for this sale can be found here. Insiders sold a total of 56,755 shares of company stock valued at $23,901,460 over the last ninety days. 2.47% of the stock is currently owned by insiders.
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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