CoStar Group, Inc. (NASDAQ:CSGP) is Bamco Inc. NY’s 4th Largest Position

Bamco Inc. NY decreased its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,785,436 shares of the technology company’s stock after selling 485,562 shares during the period. CoStar Group comprises about 3.8% of Bamco Inc. NY’s investment portfolio, making the stock its 4th biggest position. Bamco Inc. NY’s holdings in CoStar Group were worth $1,417,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in CSGP. Ashton Thomas Securities LLC bought a new stake in CoStar Group in the 3rd quarter worth approximately $40,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of CoStar Group during the second quarter worth approximately $49,000. Quarry LP bought a new stake in shares of CoStar Group in the 2nd quarter worth approximately $54,000. Rothschild Investment LLC purchased a new stake in shares of CoStar Group in the 2nd quarter valued at $73,000. Finally, Blue Trust Inc. grew its holdings in shares of CoStar Group by 493.4% during the 2nd quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after purchasing an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Insider Buying and Selling

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

CoStar Group Price Performance

Shares of CoStar Group stock opened at $81.34 on Monday. The business has a 50 day moving average of $75.86 and a 200 day moving average of $76.50. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a market cap of $33.35 billion, a PE ratio of 184.87 and a beta of 0.82. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business had revenue of $692.60 million during the quarter, compared to analyst estimates 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 for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. As a group, equities research analysts forecast that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a research note on Tuesday, November 19th. JPMorgan Chase & Co. decreased their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Citigroup dropped their target price on CoStar Group from $97.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, October 24th. BMO Capital Markets decreased their price target on CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada downgraded CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

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.