MQS Management LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

MQS Management LLC bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) during the 2nd quarter, HoldingsChannel reports. The fund bought 2,794 shares of the technology company’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new position in CoStar Group in the first quarter valued at approximately $31,000. Riverview Trust Co acquired a new stake in shares of CoStar Group in the 1st quarter valued at $35,000. RiverPark Advisors LLC bought a new position in shares of CoStar Group in the 1st quarter valued at $37,000. Connectus Wealth LLC raised its holdings in shares of CoStar Group by 915.0% during the 4th quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after buying an additional 467,534 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth $49,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

CoStar Group Trading Down 2.4 %

Shares of CSGP stock opened at $77.37 on Friday. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The company has a current ratio of 9.27, a quick ratio of 9.27 and a debt-to-equity ratio of 0.13. The stock has a market cap 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 stock has a 50-day moving average of $76.32 and a 200-day moving average of $81.92.

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

Analyst Ratings Changes

Several analysts recently weighed in on CSGP shares. StockNews.com lowered CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Royal Bank of Canada restated an “outperform” rating and issued a $96.00 price target on shares of CoStar Group in a research note on Tuesday, September 10th. JPMorgan Chase & Co. upped their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America cut their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Robert W. Baird lowered their price target on shares of CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus target price of $96.38.

CoStar Group Company 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.