Laurion Capital Management LP Invests $237,000 in CoStar Group, Inc. (CSGP)
Laurion Capital Management LP purchased a new stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 900 shares of the technology company’s stock, valued at approximately $237,000.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of CoStar Group by 5,124.3% in the first quarter. BlackRock Inc. now owns 1,546,911 shares of the technology company’s stock valued at $320,551,000 after purchasing an additional 1,517,301 shares during the period. Independence Advisors LLC bought a new position in CoStar Group in the second quarter worth approximately $32,338,000. Columbia Wanger Asset Management LLC grew its stake in CoStar Group by 78.5% in the first quarter. Columbia Wanger Asset Management LLC now owns 234,026 shares of the technology company’s stock worth $48,495,000 after purchasing an additional 102,946 shares in the last quarter. Vanguard Group Inc. grew its stake in CoStar Group by 4.0% in the first quarter. Vanguard Group Inc. now owns 2,553,913 shares of the technology company’s stock worth $529,222,000 after purchasing an additional 99,302 shares in the last quarter. Finally, Bares Capital Management Inc. grew its stake in CoStar Group by 17.4% in the first quarter. Bares Capital Management Inc. now owns 551,194 shares of the technology company’s stock worth $114,218,000 after purchasing an additional 81,722 shares in the last quarter. 99.84% of the stock is owned by hedge funds and other institutional investors.
CoStar Group, Inc. (NASDAQ:CSGP) opened at 271.63 on Wednesday. CoStar Group, Inc. has a 1-year low of $179.22 and a 1-year high of $287.96. The stock’s 50 day moving average is $279.11 and its 200-day moving average is $256.67. The company has a market capitalization of $8.91 billion, a P/E ratio of 91.18 and a beta of 1.51.
CoStar Group (NASDAQ:CSGP) last posted its earnings results on Wednesday, July 26th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.23. CoStar Group had a return on equity of 7.19% and a net margin of 10.85%. The firm had revenue of $237.20 million for the quarter, compared to analyst estimates of $234.38 million. During the same quarter in the prior year, the company earned $0.91 EPS. CoStar Group’s revenue was up 14.6% on a year-over-year basis. On average, analysts expect that CoStar Group, Inc. will post $4.45 earnings per share for the current fiscal year.
In other CoStar Group news, VP Matthew Linnington sold 1,767 shares of CoStar Group stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $273.15, for a total value of $482,656.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.98% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research downgraded CoStar Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. Stephens reiterated an “overweight” rating and issued a $275.00 target price (up from $260.00) on shares of CoStar Group in a report on Monday, June 19th. SunTrust Banks, Inc. upped their target price on CoStar Group from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, July 5th. B. Riley reiterated a “buy” rating and issued a $325.00 target price on shares of CoStar Group in a report on Friday, July 14th. Finally, BidaskClub downgraded CoStar Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. CoStar Group currently has a consensus rating of “Buy” and a consensus price target of $313.67.
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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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