Harbor Advisors LLC Has $1.51 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

Harbor Advisors LLC boosted its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 17.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,060 shares of the technology company’s stock after purchasing an additional 3,000 shares during the quarter. Harbor Advisors LLC’s holdings in CoStar Group were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Hilltop Holdings Inc. acquired a new stake in CoStar Group during the third quarter worth about $426,000. Holocene Advisors LP acquired a new position in shares of CoStar Group during the 3rd quarter worth approximately $7,965,000. Ascent Group LLC boosted its position in CoStar Group by 8.3% during the third quarter. Ascent Group LLC now owns 7,251 shares of the technology company’s stock worth $547,000 after purchasing an additional 554 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of CoStar Group by 652.7% during the third quarter. Benjamin Edwards Inc. now owns 22,521 shares of the technology company’s stock valued at $1,699,000 after acquiring an additional 19,529 shares during the period. Finally, Aureus Asset Management LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth $21,109,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Price Performance

Shares of CSGP stock opened at $80.07 on Tuesday. The company has a market cap of $32.83 billion, a P/E ratio of 181.98 and a beta of 0.83. CoStar Group, Inc. has a twelve month low of $68.26 and a twelve month high of $100.38. The business has a fifty day simple moving average of $75.91 and a 200 day simple moving average of $76.44. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The business had revenue of $692.60 million during the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the previous year, the business posted $0.25 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, sell-side analysts forecast that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew C. Florance acquired 14,731 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSGP. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets cut their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. JMP Securities restated a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. JPMorgan Chase & Co. reduced their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $96.00 to $83.00 in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.25.

CoStar Group Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.