CoStar Group, Inc. (NASDAQ:CSGP) Stake Boosted by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,363 shares of the technology company’s stock after buying an additional 402 shares during the quarter. Marks Group Wealth Management Inc’s holdings in CoStar Group were worth $643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG grew its holdings in shares of CoStar Group by 37.1% during the third quarter. Deutsche Bank AG now owns 739,725 shares of the technology company’s stock valued at $56,877,000 after buying an additional 200,183 shares in the last quarter. Simplicity Solutions LLC increased its holdings in shares of CoStar Group by 5.7% in the 4th quarter. Simplicity Solutions LLC now owns 7,971 shares of the technology company’s stock valued at $697,000 after purchasing an additional 431 shares during the period. Wellington Management Group LLP increased its holdings in shares of CoStar Group by 22.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,580,549 shares of the technology company’s stock valued at $275,308,000 after purchasing an additional 662,592 shares during the period. LPL Financial LLC lifted its position in shares of CoStar Group by 16.8% in the third quarter. LPL Financial LLC now owns 86,580 shares of the technology company’s stock worth $6,657,000 after purchasing an additional 12,422 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in CoStar Group by 6.0% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,559 shares of the technology company’s stock valued at $351,000 after purchasing an additional 260 shares in the last quarter. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Stock Performance

Shares of CSGP stock traded down $0.06 during mid-day trading on Tuesday, reaching $85.25. The stock had a trading volume of 1,210,148 shares, compared to its average volume of 2,137,681. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The firm has a market cap of $34.82 billion, a PE ratio of 92.73, a P/E/G ratio of 9.69 and a beta of 0.84. The firm’s 50 day simple moving average is $89.15 and its 200 day simple moving average is $84.56. The company has a quick ratio of 12.01, a current ratio of 12.01 and a debt-to-equity ratio of 0.13.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CSGP. BTIG Research initiated coverage on CoStar Group in a research report on Friday, January 19th. They set a “neutral” rating for the company. BMO Capital Markets boosted their price target on CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a report on Friday, April 12th. Bank of America lifted their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Needham & Company LLC decreased their target price on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.50.

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.