Stifel Financial Corp Acquires 29,056 Shares of CoStar Group, Inc. (CSGP)
Stifel Financial Corp boosted its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 337.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,665 shares of the technology company’s stock after purchasing an additional 29,056 shares during the period. Stifel Financial Corp owned approximately 0.11% of CoStar Group worth $9,918,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in CoStar Group by 5,124.3% during the first quarter. BlackRock Inc. now owns 1,546,911 shares of the technology company’s stock worth $320,551,000 after buying an additional 1,517,301 shares in the last quarter. Independence Advisors LLC acquired a new position in CoStar Group in the second quarter worth approximately $32,338,000. Columbia Wanger Asset Management LLC grew its position in CoStar Group by 78.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 234,026 shares of the technology company’s stock worth $48,495,000 after buying an additional 102,946 shares during the last quarter. Vanguard Group Inc. grew its position in CoStar Group by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,553,913 shares of the technology company’s stock worth $529,222,000 after buying an additional 99,302 shares during the last quarter. Finally, Bares Capital Management Inc. grew its position in CoStar Group by 17.4% in the first quarter. Bares Capital Management Inc. now owns 551,194 shares of the technology company’s stock worth $114,218,000 after buying an additional 81,722 shares during the last quarter. 99.84% of the stock is owned by institutional investors and hedge funds.
CoStar Group, Inc. (CSGP) opened at 271.63 on Wednesday. CoStar Group, Inc. has a 1-year low of $179.22 and a 1-year high of $287.96. The company has a 50-day moving average of $279.11 and a 200-day moving average of $256.67. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 91.18 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. The business had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $234.38 million. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Analysts predict that CoStar Group, Inc. will post $4.45 earnings per share for the current year.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $273.15, for a total transaction of $482,656.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.98% of the company’s stock.
CSGP has been the subject of a number of recent research reports. Stephens reissued an “overweight” rating and set a $275.00 price objective (up from $260.00) on shares of CoStar Group in a research note on Monday, June 19th. SunTrust Banks, Inc. lifted their target price on CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research lowered CoStar Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. BidaskClub lowered CoStar Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Needham & Company LLC upped their target price on CoStar Group from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $313.67.
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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