CoStar Group, Inc. (CSGP) Position Increased by Mn Services Vermogensbeheer B.V.
Mn Services Vermogensbeheer B.V. boosted its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 527.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,292 shares of the technology company’s stock after buying an additional 4,448 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in CoStar Group were worth $1,395,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in CSGP. Livforsakringsbolaget Skandia Omsesidigt bought a new position in CoStar Group during the first quarter worth approximately $124,000. Penserra Capital Management LLC raised its position in CoStar Group by 9.5% in the first quarter. Penserra Capital Management LLC now owns 736 shares of the technology company’s stock worth $152,000 after buying an additional 64 shares in the last quarter. Capstone Asset Management Co. bought a new position in CoStar Group during the second quarter worth approximately $211,000. Daiwa Securities Group Inc. raised its position in CoStar Group by 500.0% in the first quarter. Daiwa Securities Group Inc. now owns 900 shares of the technology company’s stock worth $186,000 after buying an additional 750 shares in the last quarter. Finally, Tredje AP fonden bought a new position in CoStar Group during the first quarter worth approximately $222,000. Institutional investors own 99.66% of the company’s stock.
CoStar Group, Inc. (NASDAQ:CSGP) traded down 0.68% on Friday, reaching $278.96. 100,190 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $275.67 and its 200 day moving average price is $239.64. CoStar Group, Inc. has a 52-week low of $179.22 and a 52-week high of $286.00. The firm has a market capitalization of $9.16 billion, a PE ratio of 93.64 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.23. The business had revenue of $237.20 million during the quarter, compared to the consensus estimate of $234.38 million. CoStar Group had a net margin of 10.85% and a return on equity of 7.19%. CoStar Group’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, analysts predict that CoStar Group, Inc. will post $4.49 EPS for the current fiscal year.
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A number of research analysts recently commented on CSGP shares. BidaskClub lowered shares of CoStar Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 18th. Needham & Company LLC raised their price objective on shares of CoStar Group from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, July 28th. B. Riley reiterated a “buy” rating and set a $335.00 price objective on shares of CoStar Group in a research note on Friday, July 28th. Finally, Stephens restated an “overweight” rating and issued a $275.00 price target (up previously from $260.00) on shares of CoStar Group in a research report on Monday, June 19th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. CoStar Group presently has an average rating of “Buy” and an average price target of $313.67.
In related news, Director Michael R. Klein sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $265.01, for a total transaction of $5,300,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew Linnington sold 1,767 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $273.15, for a total transaction of $482,656.05. The disclosure for this sale can be found here. Insiders own 2.98% of the company’s stock.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate and related business community through its database of commercial real estate information covering the United States, the United Kingdom, and parts of Canada, Spain, Germany and France.
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