BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 29,462 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 60.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,218 shares of the technology company’s stock after acquiring an additional 29,462 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in CoStar Group were worth $5,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Crewe Advisors LLC bought a new stake in CoStar Group during the 1st quarter valued at approximately $31,000. Riverview Trust Co bought a new stake in shares of CoStar Group in the first quarter valued at approximately $35,000. RiverPark Advisors LLC acquired a new stake in shares of CoStar Group in the first quarter worth $37,000. TFO Wealth Partners LLC increased its position in CoStar Group by 5,571.4% during the fourth quarter. TFO Wealth Partners LLC now owns 397 shares of the technology company’s stock worth $350,000 after acquiring an additional 390 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new position in CoStar Group during the 2nd quarter valued at $49,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Up 1.4 %

Shares of CoStar Group stock opened at $74.73 on Friday. The stock has a market capitalization of $30.52 billion, a P/E ratio of 102.37 and a beta of 0.81. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $76.29 and a 200 day simple moving average of $81.70.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Needham & Company LLC reissued a “buy” rating and set a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. Robert W. Baird cut their price target on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. JMP Securities reissued a “market outperform” rating and set a $90.00 price objective on shares of CoStar Group in a report on Friday, September 6th. Finally, The Goldman Sachs Group cut their target price on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.38.

About CoStar Group

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.