Kayne Anderson Rudnick Investment Management LLC Has $72.41 Million Stock Position in CoStar Group, Inc. (NASDAQ:CSGP)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 976,643 shares of the technology company’s stock after selling 41,400 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in CoStar Group were worth $72,408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of CoStar Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 65,451,499 shares of the technology company’s stock worth $6,322,615,000 after acquiring an additional 541,700 shares in the last quarter. Janus Henderson Group PLC increased its stake in CoStar Group by 17.7% during 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in CoStar Group by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,117,260 shares of the technology company’s stock worth $453,534,000 after buying an additional 124,761 shares during the period. Blair William & Co. IL lifted its stake in CoStar Group by 0.6% in the first quarter. Blair William & Co. IL now owns 4,419,778 shares of the technology company’s stock valued at $426,951,000 after buying an additional 26,800 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of CoStar Group by 32.2% in the fourth quarter. Capital International Investors now owns 4,036,609 shares of the technology company’s stock valued at $352,759,000 after buying an additional 982,837 shares during the period. 96.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSGP has been the topic of several research reports. Robert W. Baird cut their price objective on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Finally, StockNews.com downgraded CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

CoStar Group Stock Performance

Shares of CSGP opened at $77.37 on Friday. The firm has a 50-day moving average of $76.32 and a 200-day moving average of $81.92. CoStar Group, Inc. has a one year low of $67.35 and a one year high of $100.38. The company has a market cap of $31.59 billion, a PE ratio of 105.99, a price-to-earnings-growth ratio of 11.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27.

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