GAMMA Investing LLC Grows Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

GAMMA Investing LLC raised its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,938 shares of the technology company’s stock after buying an additional 355 shares during the period. GAMMA Investing LLC’s holdings in CoStar Group were worth $354,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of CoStar Group during the 3rd quarter worth about $40,000. Quarry LP acquired a new stake in CoStar Group during the second quarter worth approximately $54,000. Brooklyn Investment Group purchased a new stake in shares of CoStar Group during the 3rd quarter worth approximately $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of CoStar Group in the 2nd quarter valued at $104,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of CoStar Group by 55.1% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,374 shares of the technology company’s stock valued at $104,000 after buying an additional 488 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. William Blair restated an “outperform” rating on shares of CoStar Group in a research note on Monday. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. cut their price target on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Stephens reissued an “overweight” rating and issued a $103.00 price objective on shares of CoStar Group in a report on Thursday, January 2nd. Finally, Royal Bank of Canada cut shares of CoStar Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $96.00 to $83.00 in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.08.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance bought 14,731 shares of the stock in a transaction on Friday, October 25th. The shares were bought at an average price 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 owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

CoStar Group Stock Performance

Shares of CSGP stock opened at $71.21 on Tuesday. 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, Inc. has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 161.84 and a beta of 0.85. The stock has a 50 day simple moving average of $75.22 and a 200-day simple moving average of $75.51.

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

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.