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

CoStar Group, Inc. (NASDAQ:CSGP) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 11,750,000 shares, a growth of 5.7% from the November 30th total of 11,120,000 shares. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is presently 4.1 days.

Insider Activity at CoStar Group

In related news, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew C. Florance acquired 14,731 shares of CoStar Group stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at $94,315,527.66. This trade represents a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is currently owned by insiders.

Institutional Trading of CoStar Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bleakley Financial Group LLC raised its stake in CoStar Group by 1.6% in the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock valued at $652,000 after buying an additional 138 shares during the last quarter. Moran Wealth Management LLC raised its position in shares of CoStar Group by 2.0% in the 3rd quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock valued at $606,000 after purchasing an additional 161 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its stake in CoStar Group by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after purchasing an additional 188 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 209 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in CoStar Group by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 35,075 shares of the technology company’s stock valued at $2,600,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and issued a $90.00 price target on shares of CoStar Group in a report on Monday, December 16th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Royal Bank of Canada downgraded shares of CoStar Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $96.00 to $83.00 in a research note on Wednesday, October 23rd. Finally, Stephens reiterated an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.08.

CoStar Group Trading Up 1.2 %

CSGP opened at $72.43 on Thursday. CoStar Group has a 12 month low of $68.26 and a 12 month high of $100.38. The stock has a fifty day moving average price of $75.39 and a 200-day moving average price of $75.52. The firm has a market cap of $29.69 billion, a price-to-earnings ratio of 164.62 and a beta of 0.83. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results 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 business had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. As a group, equities research analysts anticipate that CoStar Group will post 0.52 earnings per share for the current fiscal year.

About CoStar Group

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.