CoStar Group Inc. (CSGP) Trading Down 4.9%
CoStar Group Inc. (NASDAQ:CSGP) dropped 4.9% on Thursday . The stock traded as low as $208.70 and last traded at $211.74, with a volume of 266,414 shares changing hands. The stock had previously closed at $222.71.
CSGP has been the topic of several analyst reports. TheStreet upgraded CoStar Group from a “hold” rating to a “buy” rating in a research note on Wednesday, June 22nd. Wells Fargo & Co. reiterated a “buy” rating on shares of CoStar Group in a research note on Tuesday, June 7th. Zacks Investment Research upgraded CoStar Group from a “hold” rating to a “buy” rating and set a $219.00 price objective on the stock in a research note on Tuesday, May 3rd. B. Riley reiterated a “buy” rating and issued a $215.00 price objective on shares of CoStar Group in a research note on Sunday, May 1st. Finally, JMP Securities upped their price objective on CoStar Group from $215.00 to $230.00 and gave the company a “market outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. CoStar Group currently has a consensus rating of “Buy” and an average target price of $233.50.
The firm has a market cap of $6.69 billion and a price-to-earnings ratio of 133.96. The company has a 50 day moving average price of $215.10 and a 200-day moving average price of $192.04.
CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.08. The firm earned $207 million during the quarter, compared to the consensus estimate of $205.66 million. During the same period in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Equities research analysts anticipate that CoStar Group Inc. will post $4.09 earnings per share for the current year.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in CoStar Group by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 2,091,573 shares of the company’s stock worth $432,308,000 after buying an additional 48,021 shares in the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of CoStar Group by 0.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 223,414 shares of the company’s stock worth $46,177,000 after buying an additional 1,240 shares during the last quarter. American Capital Management Inc. boosted its stake in shares of CoStar Group by 1,198.1% in the fourth quarter. American Capital Management Inc. now owns 46,733 shares of the company’s stock worth $9,659,000 after buying an additional 43,133 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of CoStar Group by 15.1% in the fourth quarter. BlackRock Advisors LLC now owns 83,591 shares of the company’s stock worth $17,277,000 after buying an additional 10,972 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of CoStar Group by 1.1% in the fourth quarter. US Bancorp DE now owns 20,094 shares of the company’s stock worth $4,153,000 after buying an additional 227 shares during the last quarter.
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. The Company has five flagship brands: CoStar, LoopNet, Apartments.com, BizBuySell and LandsofAmerica. The Company has operations in the United States, Canada, the United Kingdom and France.
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