Comerica Bank Boosts Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Comerica Bank lifted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 129,288 shares of the technology company’s stock after purchasing an additional 4,393 shares during the period. Comerica Bank’s holdings in CoStar Group were worth $12,489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSGP. Blue Trust Inc. raised its stake in CoStar Group by 125.4% during the fourth quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after purchasing an additional 173 shares during the period. Global Retirement Partners LLC raised its stake in CoStar Group by 348.6% during the fourth quarter. Global Retirement Partners LLC now owns 2,288 shares of the technology company’s stock worth $187,000 after purchasing an additional 1,778 shares during the period. Fifth Third Bancorp raised its stake in CoStar Group by 16.0% during the fourth quarter. Fifth Third Bancorp now owns 7,395 shares of the technology company’s stock worth $646,000 after purchasing an additional 1,018 shares during the period. State of Michigan Retirement System raised its stake in CoStar Group by 6.7% during the fourth quarter. State of Michigan Retirement System now owns 119,400 shares of the technology company’s stock worth $10,434,000 after purchasing an additional 7,500 shares during the period. Finally, Patten & Patten Inc. TN raised its stake in CoStar Group by 28.6% during the fourth quarter. Patten & Patten Inc. TN now owns 7,726 shares of the technology company’s stock worth $675,000 after purchasing an additional 1,718 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Trading Down 1.9 %

Shares of CSGP stock traded down $1.51 during trading hours on Thursday, hitting $76.51. 870,244 shares of the company were exchanged, compared to its average volume of 2,306,603. The firm has a market cap of $31.36 billion, a PE ratio of 106.36, a PEG ratio of 11.65 and a beta of 0.81. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year 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 firm has a fifty day moving average of $76.28 and a 200 day moving average of $83.90.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CSGP. Keefe, Bruyette & Woods dropped their price objective on shares of CoStar Group from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Robert W. Baird dropped their price objective 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. Bank of America lowered their price target on shares of CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and set a $107.00 price target on shares of CoStar Group in a report on Wednesday, July 24th. Finally, JMP Securities lowered their price target on shares of CoStar Group from $110.00 to $90.00 and set a “market outperform” rating for the company in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $96.08.

Insider Transactions at CoStar Group

In related news, Director John W. Hill 1,325 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.57% of the company’s stock.

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.