Kentucky Retirement Systems Sells 241 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

Kentucky Retirement Systems trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,771 shares of the technology company’s stock after selling 241 shares during the period. Kentucky Retirement Systems’ holdings in CoStar Group were worth $2,281,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CSGP. Seven Eight Capital LP acquired a new position in CoStar Group during the second quarter valued at approximately $4,189,000. Elo Mutual Pension Insurance Co raised its stake in shares of CoStar Group by 0.5% during 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. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of CoStar Group by 20.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,960 shares of the technology company’s stock valued at $516,000 after buying an additional 1,201 shares during the last quarter. SYSTM Wealth Solutions LLC grew its stake in shares of CoStar Group by 23.5% in the second quarter. SYSTM Wealth Solutions LLC now owns 39,979 shares of the technology company’s stock valued at $2,964,000 after buying an additional 7,598 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in CoStar Group during the second quarter worth $1,192,000. Institutional investors own 96.60% of the company’s stock.

CoStar Group Stock Down 2.4 %

CSGP stock opened at $77.37 on Friday. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27. The stock has a market capitalization of $31.59 billion, a price-to-earnings ratio of 105.99, a PEG ratio of 11.55 and a beta of 0.81. The business’s fifty day moving average price is $76.32 and its two-hundred day moving average price is $81.96.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Tuesday, July 23rd. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same period last year, the firm earned $0.27 earnings per share. CoStar Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that CoStar Group, Inc. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. StockNews.com downgraded shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Needham & Company LLC restated a “buy” rating and issued a $107.00 price objective on shares of CoStar Group in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research report on Tuesday, September 10th. Finally, Bank of America decreased their target price on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target 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.