Picton Mahoney Asset Management Increases Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Picton Mahoney Asset Management raised its position in CoStar Group, Inc. (NASDAQ:CSGP) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,745 shares of the technology company’s stock after acquiring an additional 135 shares during the quarter. Picton Mahoney Asset Management’s holdings in CoStar Group were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in CoStar Group during the 4th quarter valued at about $406,934,000. Janus Henderson Group PLC lifted its position in shares of CoStar Group by 17.7% in the 1st quarter. Janus Henderson Group PLC now owns 11,808,027 shares of the technology company’s stock worth $1,140,650,000 after purchasing an additional 1,773,564 shares during the period. Capital International Investors boosted its stake in shares of CoStar Group by 32.2% during the 4th quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after purchasing an additional 982,837 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of CoStar Group by 49.2% during the 4th quarter. Capital Research Global Investors now owns 2,414,313 shares of the technology company’s stock valued at $210,987,000 after purchasing an additional 796,386 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in shares of CoStar Group by 109.6% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,398,896 shares of the technology company’s stock valued at $122,249,000 after buying an additional 731,375 shares during the period. 96.60% of the stock is owned by institutional investors.

CoStar Group Stock Up 0.2 %

Shares of NASDAQ:CSGP traded up $0.19 during trading on Friday, reaching $77.30. 1,596,227 shares of the stock traded hands, compared to its average volume of 1,909,134. The stock has a market cap of $31.68 billion, a P/E ratio of 105.89, a price-to-earnings-growth ratio of 11.46 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a 50-day moving average of $75.08 and a two-hundred day moving average of $82.61. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, July 23rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. CoStar Group had a return on equity of 3.99% and a net margin of 8.19%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts expect that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSGP shares. StockNews.com cut CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. JMP Securities reduced their price target on CoStar Group from $110.00 to $90.00 and set a “market outperform” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird decreased their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America decreased their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group 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.