Davis Capital Management Buys 574 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Davis Capital Management raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,260 shares of the technology company’s stock after purchasing an additional 574 shares during the period. Davis Capital Management’s holdings in CoStar Group were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its position in shares of CoStar Group by 1,393.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 12,189 shares of the technology company’s stock worth $1,065,000 after acquiring an additional 11,373 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of CoStar Group by 11.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 3,589 shares of the technology company’s stock worth $312,000 after acquiring an additional 376 shares in the last quarter. Simplicity Solutions LLC raised its position in shares of CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock worth $697,000 after acquiring an additional 431 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of CoStar Group by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,035,675 shares of the technology company’s stock worth $100,046,000 after acquiring an additional 17,658 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of CoStar Group by 390.8% in the 1st quarter. SG Americas Securities LLC now owns 99,800 shares of the technology company’s stock worth $9,641,000 after acquiring an additional 79,467 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CSGP shares. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. The Goldman Sachs Group cut their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada cut their price target on CoStar Group from $109.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $107.00 price target on shares of CoStar Group in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.08.

CoStar Group Stock Down 2.4 %

Shares of CoStar Group stock traded down $1.87 on Friday, reaching $75.27. The company’s stock had a trading volume of 2,988,547 shares, compared to its average volume of 2,745,817. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. CoStar Group, Inc. has a 52 week low of $67.35 and a 52 week high of $100.38. The company has a market capitalization of $30.85 billion, a price-to-earnings ratio of 103.11, a P/E/G ratio of 11.45 and a beta of 0.81. The firm’s fifty day simple moving average is $75.90 and its two-hundred day simple moving average is $83.82.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The company had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. CoStar Group’s revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John W. Hill 1,325 shares of CoStar Group stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this link. 1.57% of the stock is currently owned by corporate 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.