Mediolanum International Funds Ltd Invests $6.98 Million in CoStar Group, Inc. (NASDAQ:CSGP)

Mediolanum International Funds Ltd purchased a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 72,556 shares of the technology company’s stock, valued at approximately $6,981,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of CoStar Group during the first quarter worth about $35,000. RiverPark Advisors LLC acquired a new stake in shares of CoStar Group during the first quarter worth about $37,000. TFO Wealth Partners LLC lifted its position in shares of CoStar Group by 5,571.4% during the fourth quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock worth $350,000 after purchasing an additional 390 shares in the last quarter. Finally, Pinnacle Bancorp Inc. acquired a new stake in CoStar Group in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 96.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CSGP has been the topic of several analyst reports. Jefferies Financial Group raised their target price on shares of CoStar Group from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 12th. Robert W. Baird raised their target price on shares of CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of CoStar Group in a report on Wednesday, April 24th. William Blair reaffirmed an “outperform” rating on shares of CoStar Group in a report on Wednesday, April 24th. Finally, Needham & Company LLC raised their target price on shares of CoStar Group from $90.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $102.46.

CoStar Group Stock Up 0.3 %

CoStar Group stock traded up $0.25 during mid-day trading on Wednesday, hitting $71.84. The company had a trading volume of 3,583,709 shares, compared to its average volume of 2,252,236. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.13. The stock has a market cap of $29.34 billion, a price-to-earnings ratio of 97.82, a PEG ratio of 10.82 and a beta of 0.81. The business has a fifty day moving average of $80.46 and a 200 day moving average of $84.85. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.45 earnings per share for the current fiscal year.

Insider Transactions at CoStar Group

In other news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at $28,099,448.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Scott T. Wheeler sold 122,736 shares of CoStar Group stock in a transaction on Friday, April 26th. The shares were sold at an average price of $92.61, for a total value of $11,366,580.96. Following the transaction, the chief financial officer now directly owns 303,417 shares in the company, valued at approximately $28,099,448.37. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Desmarais sold 3,800 shares of CoStar Group stock in a transaction on Friday, April 26th. The stock was sold at an average price of $92.67, for a total value of $352,146.00. Following the transaction, the insider now directly owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

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.