Quantitative Investment Management LLC increased its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 314.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,500 shares of the technology company’s stock after buying an additional 33,000 shares during the period. Quantitative Investment Management LLC owned about 0.13% of CoStar Group worth $11,466,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in CoStar Group by 15.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 18,117 shares of the technology company’s stock worth $4,776,000 after buying an additional 2,476 shares during the period. Laurion Capital Management LP acquired a new stake in CoStar Group during the 2nd quarter worth approximately $237,000. BT Investment Management Ltd acquired a new stake in CoStar Group during the 2nd quarter worth approximately $448,000. Amalgamated Bank boosted its position in CoStar Group by 29.6% during the 2nd quarter. Amalgamated Bank now owns 6,045 shares of the technology company’s stock worth $1,593,000 after buying an additional 1,381 shares during the period. Finally, BlackRock Inc. boosted its position in CoStar Group by 0.5% during the 2nd quarter. BlackRock Inc. now owns 1,554,466 shares of the technology company’s stock worth $409,755,000 after buying an additional 7,555 shares during the period. Institutional investors and hedge funds own 99.84% of the company’s stock.
Shares of CoStar Group, Inc. (CSGP) opened at 282.10 on Thursday. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 94.70 and a beta of 1.52. CoStar Group, Inc. has a 1-year low of $179.22 and a 1-year high of $287.96. The stock has a 50 day moving average of $280.46 and a 200 day moving average of $251.76.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The company had revenue of $237.20 million during the quarter, compared to analyst estimates of $234.38 million. During the same quarter last year, the firm posted $0.91 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. Analysts predict that CoStar Group, Inc. will post $4.48 EPS for the current year.
In related news, VP Matthew Linnington sold 1,767 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $273.15, for a total value of $482,656.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Klein sold 20,000 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $265.01, for a total value of $5,300,200.00. The disclosure for this sale can be found here. Company insiders own 2.98% of the company’s stock.
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CSGP has been the topic of several recent research reports. BidaskClub downgraded shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Needham & Company LLC lifted their target price on shares of CoStar Group from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $289.00 target price on the stock in a research report on Wednesday, June 7th. B. Riley reiterated a “buy” rating and set a $335.00 target price on shares of CoStar Group in a research report on Friday, July 28th. Finally, Stephens reiterated an “overweight” rating and set a $275.00 target price (up from $260.00) on shares of CoStar Group in a research report on Monday, June 19th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $313.67.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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