M&T Bank Corp Has $1.84 Million Position in CoStar Group, Inc. (NASDAQ:CSGP)

M&T Bank Corp boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,330 shares of the technology company’s stock after acquiring an additional 790 shares during the period. M&T Bank Corp’s holdings in CoStar Group were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of CoStar Group in the third quarter valued at about $40,000. Industrial Alliance Investment Management Inc. bought a new position in CoStar Group in the 2nd quarter valued at about $49,000. Quarry LP bought a new position in CoStar Group in the 2nd quarter valued at about $54,000. Rothschild Investment LLC acquired a new stake in CoStar Group during the second quarter worth approximately $73,000. Finally, Blue Trust Inc. boosted its holdings in shares of CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock worth $80,000 after acquiring an additional 898 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $75.07 on Friday. The firm has a 50 day moving average of $76.45 and a 200-day moving average of $75.98. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $30.78 billion, a PE ratio of 170.61 and a beta of 0.83.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CSGP. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Citigroup dropped their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. BMO Capital Markets lowered their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of CoStar Group in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.25.

Insider Buying and Selling

In related news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction dated Friday, October 25th. The stock was bought at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the acquisition, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Desmarais sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the sale, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This trade represents a 8.55 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

CoStar Group Company 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.