According to Zacks, “CoStar Group, Inc. provides information services to the commercial real estate industry. Their wide array of digital service offerings includes a leasing marketplace, a selling marketplace, sales comparable information, decision support, contact management, tenant information, property marketing, and industry news. They have three assets that provide a unique foundation for this marketplace: comprehensive national databases; large research department; and large number of participating organizations. “
Several other equities research analysts have also recently issued reports on CSGP. Citigroup Inc started coverage on CoStar Group in a research note on Tuesday, December 20th. They issued a buy rating for the company. TheStreet upgraded CoStar Group from a c+ rating to a b rating in a research note on Thursday, February 23rd. Finally, B. Riley reiterated a buy rating and issued a $231.00 price target on shares of CoStar Group in a research note on Monday, March 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. CoStar Group currently has a consensus rating of Buy and an average target price of $236.20.
CoStar Group (NASDAQ:CSGP) traded down 0.32% during midday trading on Friday, hitting $206.10. The stock had a trading volume of 255,226 shares. The company has a 50-day moving average of $205.06 and a 200-day moving average of $201.46. CoStar Group has a 1-year low of $174.49 and a 1-year high of $224.79. The stock has a market cap of $6.72 billion, a price-to-earnings ratio of 78.66 and a beta of 1.44.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. The business earned $218 million during the quarter, compared to analysts’ expectations of $217.49 million. CoStar Group had a return on equity of 6.90% and a net margin of 9.66%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 earnings per share. Equities research analysts forecast that CoStar Group will post $4.23 EPS for the current year.
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In other CoStar Group news, insider Andrew C. Florance sold 26,271 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $205.31, for a total transaction of $5,393,699.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Francis Carchedi sold 2,448 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $205.30, for a total value of $502,574.40. The disclosure for this sale can be found here. Insiders have sold 33,219 shares of company stock valued at $6,818,683 over the last 90 days. Corporate insiders own 2.98% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CSGP. First Trust Advisors LP boosted its stake in CoStar Group by 340.8% in the third quarter. First Trust Advisors LP now owns 13,893 shares of the company’s stock valued at $3,008,000 after buying an additional 10,741 shares during the last quarter. Capital Management Associates NY boosted its stake in CoStar Group by 40.0% in the third quarter. Capital Management Associates NY now owns 2,100 shares of the company’s stock valued at $455,000 after buying an additional 600 shares during the last quarter. LMR Partners LLP acquired a new stake in CoStar Group during the third quarter valued at $3,342,000. Quantbot Technologies LP acquired a new stake in CoStar Group during the third quarter valued at $156,000. Finally, Virginia Retirement Systems ET AL boosted its stake in CoStar Group by 107.7% in the third quarter. Virginia Retirement Systems ET AL now owns 2,700 shares of the company’s stock valued at $585,000 after buying an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.
CoStar Group Company Profile
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France.
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