MML Investors Services LLC Grows Position in CoStar Group, Inc. (NASDAQ:CSGP)

MML Investors Services LLC lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,009 shares of the technology company’s stock after buying an additional 1,021 shares during the period. MML Investors Services LLC’s holdings in CoStar Group were worth $6,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock worth $1,286,987,000 after purchasing an additional 722,153 shares during the period. Bank of New York Mellon Corp lifted its holdings in CoStar Group by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock valued at $453,534,000 after acquiring an additional 124,761 shares during the last quarter. Vulcan Value Partners LLC grew its position in CoStar Group by 90.1% in the second quarter. Vulcan Value Partners LLC now owns 4,138,987 shares of the technology company’s stock worth $306,831,000 after acquiring an additional 1,961,917 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CoStar Group by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,684,373 shares of the technology company’s stock worth $202,509,000 after acquiring an additional 76,916 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in CoStar Group by 16.9% in the second quarter. Mackenzie Financial Corp now owns 2,358,526 shares of the technology company’s stock valued at $174,861,000 after purchasing an additional 341,046 shares during the period. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Citigroup lowered their price objective on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. BMO Capital Markets lowered their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

Shares of CoStar Group stock opened at $78.25 on Friday. The firm has a market capitalization of $32.08 billion, a P/E ratio of 177.84 and a beta of 0.83. 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, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The firm’s 50 day moving average is $76.35 and its two-hundred day moving average is $76.09.

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

Insiders Place Their Bets

In related news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average price of $74.67 per share, for a total transaction of $1,099,963.77. Following the transaction, the chief executive officer now directly owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.57% of the stock is currently owned by insiders.

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.