CoStar Group, Inc. (NASDAQ:CSGP) Position Raised by Empirical Finance LLC

Empirical Finance LLC raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 5.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,262 shares of the technology company’s stock after buying an additional 406 shares during the quarter. Empirical Finance LLC’s holdings in CoStar Group were worth $655,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of CoStar Group by 42.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,210 shares of the technology company’s stock worth $96,000 after buying an additional 360 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of CoStar Group in the 1st quarter worth approximately $221,000. PFG Investments LLC acquired a new stake in shares of CoStar Group in the 1st quarter worth approximately $234,000. Golden State Wealth Management LLC lifted its stake in shares of CoStar Group by 6.3% in the 1st quarter. Golden State Wealth Management LLC now owns 3,385 shares of the technology company’s stock worth $268,000 after acquiring an additional 200 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of CoStar Group in the 1st quarter worth approximately $4,835,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Price Performance

CSGP stock opened at $93.36 on Tuesday. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $93.75. The firm has a market capitalization of $39.55 billion, a PE ratio of 373.44, a P/E/G ratio of 4.53 and a beta of 0.89. The firm has a 50-day moving average of $81.09 and a two-hundred day moving average of $78.42.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, July 22nd. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. CoStar Group had a net margin of 3.57% and a return on equity of 2.88%. The company had revenue of $781.30 million during the quarter, compared to analyst estimates of $772.06 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. On average, analysts forecast that CoStar Group, Inc. will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $85.00 price target on shares of CoStar Group in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price target on shares of CoStar Group from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, July 17th. Royal Bank Of Canada boosted their price target on shares of CoStar Group from $83.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company reiterated an “underweight” rating and issued a $70.00 price target (up from $65.00) on shares of CoStar Group in a research report on Wednesday, July 16th. Finally, Citigroup boosted their price target on shares of CoStar Group from $91.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.