Mackenzie Financial Corp Lowers Position in CoStar Group, Inc. (NASDAQ:CSGP)

Mackenzie Financial Corp cut its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 0.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,143,281 shares of the technology company’s stock after selling 790 shares during the period. Mackenzie Financial Corp’s holdings in CoStar Group were worth $187,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP lifted its holdings in shares of CoStar Group by 75.5% during the first quarter. Quarry LP now owns 358 shares of the technology company’s stock valued at $25,000 after purchasing an additional 154 shares during the last quarter. Blue Trust Inc. grew its position in CoStar Group by 125.4% in the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Resurgent Financial Advisors LLC bought a new stake in CoStar Group in the 4th quarter worth approximately $30,000. Benjamin F. Edwards & Company Inc. bought a new stake in CoStar Group in the 2nd quarter worth approximately $33,000. Finally, Pinnacle Bancorp Inc. bought a new stake in CoStar Group in the 4th quarter worth approximately $37,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of CSGP stock opened at $87.53 on Tuesday. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The stock’s 50-day moving average is $88.97 and its 200 day moving average is $84.27. The company has a market cap of $35.75 billion, a P/E ratio of 95.14, a PEG ratio of 10.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 12.01 and a quick ratio of 12.01.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. Research analysts predict that CoStar Group, Inc. will post 0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CSGP has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of CoStar Group from $97.00 to $111.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. BTIG Research initiated coverage on shares of CoStar Group in a research report on Friday, January 19th. They issued a “neutral” rating for the company. Citigroup lifted their price target on shares of CoStar Group from $90.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Jefferies Financial Group lifted their price target on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Needham & Company LLC dropped their price target on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.08.

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.