Meyer Handelman Co. Takes Position in CoStar Group, Inc. (NASDAQ:CSGP)

Meyer Handelman Co. purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 1st quarter, Holdings Channel reports. The fund purchased 2,750 shares of the technology company’s stock, valued at approximately $266,000.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock valued at $27,000 after purchasing an additional 173 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in CoStar Group by 5,571.4% during the 4th quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock valued at $350,000 after purchasing an additional 390 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in CoStar Group during the 4th quarter valued at $37,000. CVA Family Office LLC acquired a new stake in CoStar Group during the 4th quarter valued at $60,000. Finally, Rise Advisors LLC increased its position in CoStar Group by 58.7% during the 1st quarter. Rise Advisors LLC now owns 730 shares of the technology company’s stock worth $71,000 after buying an additional 270 shares during the period. 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 recent research reports. JMP Securities reiterated a “market outperform” rating and set a $110.00 price objective on shares of CoStar Group in a research report on Tuesday, June 18th. Stephens restated an “overweight” rating and issued a $105.00 price target on shares of CoStar Group in a research report on Wednesday, April 24th. Bank of America raised their price objective on CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Robert W. Baird raised their price objective on CoStar Group from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Finally, Keefe, Bruyette & Woods raised their price objective on CoStar Group from $96.00 to $109.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.46.

Insider Buying and Selling

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

CoStar Group Stock Performance

Shares of CSGP stock opened at $73.94 on Friday. The business’s 50-day moving average price is $83.94 and its 200-day moving average price is $85.90. CoStar Group, Inc. has a 12 month low of $67.35 and a 12 month high of $100.38. The firm has a market capitalization of $30.19 billion, a price-to-earnings ratio of 101.29, a PEG ratio of 10.88 and a beta of 0.83. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $656.40 million for the quarter, compared to analyst estimates of $649.27 million. CoStar Group had a return on equity of 4.95% and a net margin of 11.64%. Equities research analysts forecast that CoStar Group, Inc. will post 0.45 EPS for the current year.

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.