CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Update

CoStar Group, Inc. (NASDAQ:CSGPGet Rating) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,040,000 shares, a decrease of 10.9% from the July 15th total of 3,410,000 shares. Based on an average daily volume of 1,900,000 shares, the days-to-cover ratio is currently 1.6 days.

CoStar Group Price Performance

Shares of NASDAQ:CSGP traded down $1.44 during mid-day trading on Wednesday, reaching $73.69. The stock had a trading volume of 37,625 shares, compared to its average volume of 1,680,330. The company has a current ratio of 11.95, a quick ratio of 11.95 and a debt-to-equity ratio of 0.17. The company has a market cap of $29.18 billion, a P/E ratio of 89.44 and a beta of 0.92. CoStar Group has a 1 year low of $49.00 and a 1 year high of $101.05. The business’s 50 day moving average price is $63.68 and its 200 day moving average price is $62.94.

CoStar Group (NASDAQ:CSGPGet Rating) last released its earnings results on Tuesday, July 26th. The technology company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. CoStar Group had a return on equity of 7.31% and a net margin of 16.03%. During the same quarter in the previous year, the business earned $0.22 EPS. Research analysts expect that CoStar Group will post 0.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Truist Financial increased their price objective on CoStar Group to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Citigroup raised their target price on CoStar Group from $65.00 to $70.00 in a research note on Wednesday, April 27th. Finally, Needham & Company LLC raised their target price on CoStar Group from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.88.

Insider Transactions at CoStar Group

In other news, Director John W. Hill sold 1,750 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $57.07, for a total transaction of $99,872.50. Following the transaction, the director now directly owns 21,998 shares of the company’s stock, valued at $1,255,425.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Michael J. Desmarais sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $72.51, for a total transaction of $145,020.00. Following the completion of the sale, the insider now owns 39,619 shares in the company, valued at $2,872,773.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Hill sold 1,750 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $57.07, for a total value of $99,872.50. Following the transaction, the director now directly owns 21,998 shares in the company, valued at approximately $1,255,425.86. The disclosure for this sale can be found here. Insiders have sold 5,150 shares of company stock valued at $349,179 over the last ninety days. 1.42% of the stock is owned by company insiders.

Institutional Trading of CoStar Group

Several hedge funds and other institutional investors have recently bought and sold shares of CSGP. Commonwealth Equity Services LLC lifted its holdings in shares of CoStar Group by 2.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,392 shares of the technology company’s stock valued at $1,532,000 after purchasing an additional 468 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in CoStar Group in the 4th quarter worth about $442,000. CWM LLC acquired a new stake in CoStar Group in the 4th quarter worth about $84,000. Qube Research & Technologies Ltd purchased a new position in CoStar Group in the 4th quarter worth approximately $25,191,000. Finally, Daiwa Securities Group Inc. lifted its stake in CoStar Group by 41.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 27,380 shares of the technology company’s stock worth $2,164,000 after purchasing an additional 7,960 shares in the last quarter. Institutional investors own 94.52% of the company’s stock.

About CoStar Group

(Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

Featured Articles

Receive News & Ratings for CoStar Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CoStar Group and related companies with MarketBeat.com's FREE daily email newsletter.