EFG Asset Management Americas Corp. trimmed its holdings in CoStar Group Inc (NASDAQ:CSGP) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,331 shares of the technology company’s stock after selling 637 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in CoStar Group were worth $3,756,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. BBVA USA Bancshares Inc. grew its position in CoStar Group by 147.3% in the third quarter. BBVA USA Bancshares Inc. now owns 2,354 shares of the technology company’s stock worth $1,397,000 after acquiring an additional 1,402 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in CoStar Group by 18.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 313,389 shares of the technology company’s stock worth $185,903,000 after acquiring an additional 48,262 shares in the last quarter. Frisch Financial Group Inc. bought a new stake in CoStar Group in the third quarter worth approximately $474,000. Tower Research Capital LLC TRC bought a new stake in CoStar Group in the third quarter worth approximately $717,000. Finally, SG Americas Securities LLC bought a new stake in CoStar Group in the third quarter worth approximately $846,000. 95.01% of the stock is owned by institutional investors.
CSGP has been the subject of several recent research reports. B. Riley boosted their target price on shares of CoStar Group from $610.00 to $640.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. SunTrust Banks upped their price objective on shares of CoStar Group to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. ValuEngine downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Needham & Company LLC decreased their price objective on shares of CoStar Group to $600.00 in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of CoStar Group from $425.00 to $597.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $631.30.
In related news, Director Christopher J. Nassetta sold 406 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $570.99, for a total transaction of $231,821.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.14% of the stock is owned by corporate insiders.
NASDAQ CSGP opened at $557.71 on Tuesday. The company has a fifty day simple moving average of $577.13 and a 200 day simple moving average of $567.35. The company has a market cap of $20.12 billion, a P/E ratio of 75.37, a P/E/G ratio of 4.12 and a beta of 1.34. CoStar Group Inc has a 1 year low of $315.85 and a 1 year high of $639.41.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $2.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.52 by $0.09. The business had revenue of $352.81 million during the quarter, compared to the consensus estimate of $353.16 million. CoStar Group had a net margin of 23.17% and a return on equity of 10.55%. CoStar Group’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 EPS. As a group, sell-side analysts anticipate that CoStar Group Inc will post 8.89 earnings per share for the current fiscal year.
CoStar Group Company Profile
CoStar Group, Inc provides information, analytics, and online marketplaces to the commercial real estate industry in the United States and the United Kingdom. The company offers CoStar Property Professional service that offers inventory of office, industrial, retail, and multifamily properties and land.
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