Gateway Investment Advisers LLC Boosts Stock Holdings in CoStar Group, Inc. (NASDAQ:CSGP)

Gateway Investment Advisers LLC lifted its position in CoStar Group, Inc. (NASDAQ:CSGP) by 41.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,077 shares of the technology company’s stock after purchasing an additional 12,692 shares during the period. Gateway Investment Advisers LLC’s holdings in CoStar Group were worth $3,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CSGP. Dimensional Fund Advisors LP increased its stake in shares of CoStar Group by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,697,933 shares of the technology company’s stock valued at $125,889,000 after purchasing an additional 219,758 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of CoStar Group in the second quarter valued at approximately $1,192,000. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of CoStar Group by 20.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,960 shares of the technology company’s stock valued at $516,000 after buying an additional 1,201 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its position in shares of CoStar Group by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 37,501 shares of the technology company’s stock valued at $2,780,000 after buying an additional 188 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of CoStar Group during the 2nd quarter valued at approximately $207,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

CoStar Group Price Performance

Shares of CSGP stock opened at $73.85 on Friday. The firm’s 50-day moving average is $74.74 and its two-hundred day moving average is $75.33. CoStar Group, Inc. has a 12 month low of $68.26 and a 12 month high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The company has a market capitalization of $30.28 billion, a PE ratio of 167.84 and a beta of 0.85.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings data on Tuesday, October 22nd. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. The firm had revenue of $692.60 million for the quarter, compared to analysts’ expectations of $695.91 million. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Analysts predict that CoStar Group, Inc. will post 0.52 earnings per share for the current year.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance purchased 14,731 shares of the stock in a transaction dated Friday, October 25th. The stock was acquired at an average cost of $74.67 per share, for a total transaction of $1,099,963.77. Following the completion of the transaction, the chief executive officer now directly owns 1,263,098 shares in the company, valued at approximately $94,315,527.66. This represents a 1.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $5,350,268.77. Following the completion of the sale, the director now owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CSGP shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Monday, December 9th. William Blair reiterated an “outperform” rating on shares of CoStar Group in a report on Monday, January 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $83.00 price objective on shares of CoStar Group in a research note on Friday, January 10th. JMP Securities restated a “market outperform” rating and issued a $90.00 target price on shares of CoStar Group in a research report on Monday, December 16th. Finally, Stephens reiterated an “overweight” rating and set a $103.00 price target on shares of CoStar Group in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.92.

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.