CoStar Group, Inc. $CSGP Stock: New York Life Investment Management LLC Increases Position

New York Life Investment Management LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGP) by 41.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,432 shares of the technology company’s stock after buying an additional 23,721 shares during the period. New York Life Investment Management LLC’s holdings in CoStar Group were worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of CoStar Group during the 2nd quarter worth approximately $957,612,000. Bamco Inc. NY purchased a new position in CoStar Group in the 2nd quarter valued at approximately $612,470,000. Jupiter Topco LLC purchased a new position in CoStar Group in the 2nd quarter valued at approximately $221,826,000. Meritage Group LP acquired a new position in CoStar Group during the second quarter worth $152,763,000. Finally, Bank of America Corp DE acquired a new position in CoStar Group during the second quarter worth $77,458,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CoStar Group

In other CoStar Group news, Director John Hill sold 3,050 shares of the stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $30.18, for a total transaction of $92,049.00. Following the transaction, the director owned 19,943 shares of the company’s stock, valued at $601,879.74. This represents a 13.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. KeyCorp set a $33.00 target price on CoStar Group in a report on Monday, August 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of CoStar Group in a research note on Wednesday, October 28th. BTIG Research decreased their price objective on shares of CoStar Group from $42.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Wells Fargo & Company set a $35.00 price objective on shares of CoStar Group in a research note on Wednesday, October 28th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of CoStar Group in a report on Wednesday, October 28th. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.11.

CoStar Group Trading Up 2.9%

Shares of NASDAQ CSGP traded up $0.86 during midday trading on Friday, reaching $30.96. 3,185,465 shares of the stock were exchanged, compared to its average volume of 6,312,145. The company has a market capitalization of $12.46 billion, a P/E ratio of 70.37, a P/E/G ratio of 0.76 and a beta of 0.79. CoStar Group, Inc. has a 52-week low of $25.89 and a 52-week high of $70.57. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $30.14 and a 200-day moving average price of $35.27.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings data on Tuesday, October 27th. The technology company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. CoStar Group had a net margin of 4.87% and a return on equity of 4.87%. The business had revenue of $952.00 million during the quarter, compared to analyst estimates of $945.82 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Equities research analysts expect that CoStar Group, Inc. will post 1.12 earnings per share for the current fiscal year.

CoStar Group Profile

CoStar Group, Inc. is a provider of commercial real estate information, analytics and online marketplaces. Its services help real estate professionals, investors, lenders and businesses research properties, evaluate markets and connect with buyers, sellers and tenants. The company’s brands include CoStar, which provides commercial property data and research; LoopNet, a commercial property marketplace; Apartments.com, a rental listings platform; and STR, which supplies benchmarking data for the hospitality industry.