CoStar Group (NASDAQ:CSGP) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of CoStar Group (NASDAQ:CSGP) from a hold rating to a sell rating in a research report report published on Wednesday morning.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets lowered their price target on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Stephens reaffirmed an “overweight” rating and issued a $103.00 price target on shares of CoStar Group in a report on Thursday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of CoStar Group in a report on Monday, December 9th. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $83.00 price target on shares of CoStar Group in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, CoStar Group currently has an average rating of “Moderate Buy” and a consensus price target of $92.92.

CoStar Group Price Performance

CoStar Group stock opened at $73.22 on Wednesday. CoStar Group has a 52 week low of $68.26 and a 52 week high of $100.38. The company’s 50 day moving average price is $74.83 and its two-hundred day moving average price is $75.36. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $30.02 billion, a P/E ratio of 166.41 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. During the same quarter last year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts predict that CoStar Group will post 0.52 earnings per share for the current year.

Insider Buying and Selling at CoStar Group

In other news, Director Michael R. Klein sold 71,633 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Desmarais sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bleakley Financial Group LLC grew its position in CoStar Group by 1.6% in the third quarter. Bleakley Financial Group LLC now owns 8,638 shares of the technology company’s stock worth $652,000 after acquiring an additional 138 shares in the last quarter. Moran Wealth Management LLC grew its position in CoStar Group by 2.0% in the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after acquiring an additional 161 shares in the last quarter. Elo Mutual Pension Insurance Co grew its position in CoStar Group by 0.5% in the second quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock worth $2,780,000 after acquiring an additional 188 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in CoStar Group by 1.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after acquiring an additional 209 shares in the last quarter. Finally, Bell Bank grew its position in CoStar Group by 1.3% in the third quarter. Bell Bank now owns 18,232 shares of the technology company’s stock worth $1,375,000 after acquiring an additional 234 shares in the last quarter. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

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.