Fred Alger Management LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP – Free Report) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 439,295 shares of the technology company’s stock after purchasing an additional 36,091 shares during the quarter. Fred Alger Management LLC owned 0.11% of CoStar Group worth $33,777,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in CoStar Group in the 4th quarter valued at $320,866,000. Mackenzie Financial Corp lifted its stake in shares of CoStar Group by 343.8% during the 1st quarter. Mackenzie Financial Corp now owns 2,913,586 shares of the technology company’s stock worth $194,074,000 after purchasing an additional 2,257,140 shares during the last quarter. Capital International Investors purchased a new stake in shares of CoStar Group during the 1st quarter worth $101,893,000. Renaissance Technologies LLC purchased a new stake in shares of CoStar Group during the 1st quarter worth $94,633,000. Finally, Wellington Management Group LLP lifted its stake in shares of CoStar Group by 51.3% during the 1st quarter. Wellington Management Group LLP now owns 3,477,341 shares of the technology company’s stock worth $231,626,000 after purchasing an additional 1,178,764 shares during the last quarter. Institutional investors own 96.53% of the company’s stock.
CoStar Group Price Performance
CSGP traded up $0.45 during trading on Thursday, hitting $86.80. The company’s stock had a trading volume of 293,347 shares, compared to its average volume of 2,008,387. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 93.86, a P/E/G ratio of 9.95 and a beta of 0.85. The business’s fifty day simple moving average is $83.94 and its 200 day simple moving average is $81.55. CoStar Group, Inc. has a twelve month low of $65.12 and a twelve month high of $92.36. The company has a current ratio of 12.01, a quick ratio of 12.01 and a debt-to-equity ratio of 0.13.
CoStar Group (NASDAQ:CSGP – Get Free Report) last released its earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. CoStar Group had a return on equity of 6.08% and a net margin of 15.26%. The business had revenue of $640.00 million for the quarter, compared to the consensus estimate of $634.27 million. During the same quarter last year, the business posted $0.35 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that CoStar Group, Inc. will post 0.43 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on CSGP shares. Citigroup increased their price target on CoStar Group from $90.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Needham & Company LLC decreased their price target on CoStar Group from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets cut their price objective on CoStar Group from $84.00 to $79.00 and set a “market perform” rating on the stock in a report on Thursday, February 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of CoStar Group in a report on Wednesday, February 21st. Finally, BTIG Research began coverage on CoStar Group in a report on Friday, January 19th. They issued a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, CoStar Group has a consensus rating of “Moderate Buy” and a consensus price target of $91.80.
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.