Kovitz Investment Group Partners LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Kovitz Investment Group Partners LLC bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 8,226 shares of the technology company’s stock, valued at approximately $621,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Worldquant Millennium Advisors LLC acquired a new stake in CoStar Group in the third quarter worth $278,000. State Street Corp increased its holdings in shares of CoStar Group by 4.4% during the third quarter. State Street Corp now owns 17,059,744 shares of the technology company’s stock valued at $1,286,987,000 after purchasing an additional 722,153 shares during the period. Quantinno Capital Management LP increased its holdings in shares of CoStar Group by 70.6% during the third quarter. Quantinno Capital Management LP now owns 14,926 shares of the technology company’s stock valued at $1,126,000 after purchasing an additional 6,175 shares during the period. Royal London Asset Management Ltd. boosted its stake in CoStar Group by 1.7% during the third quarter. Royal London Asset Management Ltd. now owns 392,387 shares of the technology company’s stock valued at $29,602,000 after buying an additional 6,500 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in CoStar Group during the third quarter valued at about $48,768,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Price Performance

Shares of NASDAQ:CSGP opened at $78.25 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The firm has a market capitalization of $32.08 billion, a PE ratio of 177.84 and a beta of 0.83. The business’s 50 day moving average is $76.35 and its 200-day moving average is $76.09. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

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

Insider Activity at CoStar Group

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction 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 completion of the transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. The trade was 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 acquired 14,731 shares of the business’s stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the transaction, the chief executive officer now owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their position. The disclosure for this purchase can be found here. 1.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank of Canada cut CoStar Group from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JMP Securities reiterated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. BMO Capital Markets decreased their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Citigroup decreased their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

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.