CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Update

CoStar Group, Inc. (NASDAQ:CSGP) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 8,090,000 shares, an increase of 8.6% from the August 31st total of 7,450,000 shares. Based on an average daily volume of 2,340,000 shares, the short-interest ratio is currently 3.5 days.

Wall Street Analyst Weigh In

CSGP has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Keefe, Bruyette & Woods lowered their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. StockNews.com upgraded shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

Institutional Investors Weigh In On CoStar Group

Several hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in CoStar Group during the 1st quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of CoStar Group in the first quarter worth $35,000. RiverPark Advisors LLC purchased a new position in shares of CoStar Group during the first quarter valued at $37,000. Connectus Wealth LLC raised its position in CoStar Group by 915.0% during the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock valued at $45,000 after buying an additional 467,534 shares during the period. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.

CoStar Group Price Performance

CoStar Group stock traded down $0.61 during mid-day trading on Tuesday, hitting $74.83. The company’s stock had a trading volume of 628,360 shares, compared to its average volume of 2,248,742. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $30.56 billion, a P/E ratio of 103.34 and a beta of 0.81. The stock’s fifty day moving average price is $76.29 and its two-hundred day moving average price is $81.39. CoStar Group has a twelve month low of $67.35 and a twelve month high of $100.38.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter last year, the business posted $0.27 EPS. CoStar Group’s revenue was up 11.9% on a year-over-year basis. Research analysts forecast that CoStar Group will post 0.49 earnings per share for the current year.

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.