The Manufacturers Life Insurance Company Lowers Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

The Manufacturers Life Insurance Company trimmed its holdings in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 281,301 shares of the technology company’s stock after selling 4,900 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of CoStar Group worth $20,856,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its position in shares of CoStar Group by 4.7% during the first quarter. Concurrent Investment Advisors LLC now owns 2,505 shares of the technology company’s stock valued at $242,000 after acquiring an additional 112 shares in the last quarter. Picton Mahoney Asset Management increased its position in shares of CoStar Group by 2.9% during the second quarter. Picton Mahoney Asset Management now owns 4,745 shares of the technology company’s stock valued at $352,000 after acquiring an additional 135 shares in the last quarter. Redmond Asset Management LLC increased its position in shares of CoStar Group by 0.9% during the first quarter. Redmond Asset Management LLC now owns 18,670 shares of the technology company’s stock valued at $1,804,000 after acquiring an additional 169 shares in the last quarter. S.E.E.D. Planning Group LLC increased its position in shares of CoStar Group by 0.5% during the second quarter. S.E.E.D. Planning Group LLC now owns 36,255 shares of the technology company’s stock valued at $2,688,000 after acquiring an additional 172 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in shares of CoStar Group by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after acquiring an additional 188 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Stock Down 1.0 %

CSGP opened at $74.65 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group, Inc. has a fifty-two week low of $67.35 and a fifty-two week high of $100.38. The firm’s fifty day moving average is $76.29 and its 200 day moving average is $81.25. The stock has a market cap of $30.59 billion, a price-to-earnings ratio of 102.26 and a beta of 0.81.

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. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million for the quarter, compared to analysts’ expectations of $677.18 million. During the same quarter in the previous year, the company earned $0.27 EPS. CoStar Group’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that CoStar Group, Inc. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on CSGP. Keefe, Bruyette & Woods cut their target price on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Friday, September 6th. Bank of America cut their target price on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.