Merit Financial Group LLC Buys New Shares in CoStar Group, Inc. (NASDAQ:CSGP)

Merit Financial Group LLC acquired a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the fourth quarter, HoldingsChannel reports. The fund acquired 3,458 shares of the technology company’s stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC lifted its holdings in CoStar Group by 534.8% during the fourth quarter. ORG Partners LLC now owns 419 shares of the technology company’s stock valued at $30,000 after purchasing an additional 353 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of CoStar Group during the 3rd quarter valued at $40,000. Quarry LP bought a new position in CoStar Group in the 2nd quarter worth $54,000. Brooklyn Investment Group purchased a new stake in CoStar Group in the 3rd quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in CoStar Group during the second quarter valued at about $104,000. 96.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Monday, December 16th. William Blair reissued an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.92.

Insider Activity at CoStar Group

In related news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now directly owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.57% of the stock is currently owned by insiders.

CoStar Group Trading Down 0.3 %

CSGP opened at $74.16 on Friday. The stock has a 50-day moving average of $74.62 and a 200 day moving average of $75.35. 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 firm has a market cap of $30.40 billion, a P/E ratio of 168.55 and a beta of 0.85.

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.