CoStar Group Inc (CSGP) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of CoStar Group Inc (NASDAQ:CSGP) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

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.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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.

5 Day Chart for NASDAQ:CSGP

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