Townsquare Capital LLC Purchases 1,040 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Townsquare Capital LLC grew its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 12.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,359 shares of the technology company’s stock after buying an additional 1,040 shares during the period. Townsquare Capital LLC’s holdings in CoStar Group were worth $706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in CoStar Group during the third quarter worth about $40,000. Gateway Investment Advisers LLC raised its stake in CoStar Group by 31.1% during the second quarter. Gateway Investment Advisers LLC now owns 40,525 shares of the technology company’s stock valued at $3,005,000 after buying an additional 9,618 shares during the last quarter. Telemark Asset Management LLC grew its stake in shares of CoStar Group by 42.9% in the third quarter. Telemark Asset Management LLC now owns 500,000 shares of the technology company’s stock worth $37,720,000 after acquiring an additional 150,000 shares during the last quarter. Swedbank AB increased its holdings in shares of CoStar Group by 469.3% during the third quarter. Swedbank AB now owns 248,043 shares of the technology company’s stock valued at $18,712,000 after acquiring an additional 204,474 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of CoStar Group by 16.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 103,547 shares of the technology company’s stock worth $7,812,000 after purchasing an additional 14,468 shares during the last quarter. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total value of $439,340.00. Following the completion of the sale, the insider now owns 58,798 shares in the company, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the sale, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

CoStar Group Price Performance

Shares of CoStar Group stock opened at $80.15 on Wednesday. The stock has a market cap of $32.86 billion, a P/E ratio of 182.16 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 9.63. The stock’s fifty day moving average is $75.99 and its 200 day moving average is $76.39. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. Sell-side analysts anticipate that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on CSGP shares. JPMorgan Chase & Co. reduced their price objective on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. JMP Securities reissued a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research report on Friday, September 6th. Citigroup lowered their price objective on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of CoStar Group in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.