FWG Holdings LLC Increases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

FWG Holdings LLC raised its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.1% in the 3rd quarter, Holdings Channel reports. The firm owned 6,212 shares of the technology company’s stock after purchasing an additional 247 shares during the quarter. FWG Holdings LLC’s holdings in CoStar Group were worth $462,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the 3rd quarter worth $40,000. Swedbank AB acquired a new stake in CoStar Group in the 1st quarter worth approximately $4,223,000. Gateway Investment Advisers LLC grew its position in CoStar Group by 31.1% during the 2nd quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock worth $3,005,000 after purchasing an additional 9,618 shares during the last quarter. First Hawaiian Bank increased its stake in CoStar Group by 111.9% during the 2nd quarter. First Hawaiian Bank now owns 16,726 shares of the technology company’s stock valued at $1,240,000 after purchasing an additional 8,833 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of CoStar Group by 248.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 369,291 shares of the technology company’s stock valued at $27,379,000 after acquiring an additional 263,234 shares during the period. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of CoStar Group in a report on Tuesday. The Goldman Sachs Group dropped their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Bank of America reduced their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average target price of $93.25.

Insiders Place Their Bets

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction that occurred 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 directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew C. Florance purchased 14,731 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were purchased 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 of the company’s stock, valued at $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by corporate insiders.

CoStar Group Price Performance

Shares of CSGP stock opened at $73.35 on Tuesday. The company has a market capitalization of $30.07 billion, a PE ratio of 166.71 and a beta of 0.82. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The firm’s 50-day moving average is $75.70 and its two-hundred day moving average is $77.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

About CoStar Group

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.