Kornitzer Capital Management Inc. KS Sells 38,230 Shares of CoStar Group, Inc. $CSGP

Kornitzer Capital Management Inc. KS lessened its position in CoStar Group, Inc. (NASDAQ:CSGP) by 14.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 231,626 shares of the technology company’s stock after selling 38,230 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in CoStar Group were worth $19,542,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CSGP. Integrated Wealth Concepts LLC boosted its holdings in shares of CoStar Group by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,789 shares of the technology company’s stock valued at $379,000 after buying an additional 426 shares in the last quarter. NewEdge Advisors LLC lifted its position in CoStar Group by 727.5% during the 1st quarter. NewEdge Advisors LLC now owns 1,473 shares of the technology company’s stock valued at $117,000 after acquiring an additional 1,295 shares during the period. Jones Financial Companies Lllp boosted its stake in CoStar Group by 860.7% during the first quarter. Jones Financial Companies Lllp now owns 12,691 shares of the technology company’s stock worth $1,006,000 after acquiring an additional 11,370 shares in the last quarter. Empowered Funds LLC grew its holdings in CoStar Group by 9.2% in the first quarter. Empowered Funds LLC now owns 7,941 shares of the technology company’s stock worth $629,000 after purchasing an additional 666 shares during the period. Finally, Woodline Partners LP increased its stake in shares of CoStar Group by 44.6% during the first quarter. Woodline Partners LP now owns 35,604 shares of the technology company’s stock valued at $2,821,000 after purchasing an additional 10,984 shares in the last quarter. Institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CSGP. Deutsche Bank Aktiengesellschaft set a $68.00 price target on CoStar Group in a research report on Thursday, January 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $84.00 target price on shares of CoStar Group in a report on Wednesday, January 14th. BMO Capital Markets reduced their price target on CoStar Group from $77.00 to $72.00 and set a “market perform” rating for the company in a report on Thursday, January 8th. Wells Fargo & Company reiterated an “underweight” rating and issued a $55.00 price target (down previously from $60.00) on shares of CoStar Group in a research note on Thursday, January 8th. Finally, Jefferies Financial Group upgraded shares of CoStar Group to a “hold” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and an average target price of $83.59.

CoStar Group Trading Up 0.3%

CoStar Group stock opened at $65.81 on Tuesday. CoStar Group, Inc. has a one year low of $57.01 and a one year high of $97.43. The business’s fifty day moving average is $65.97 and its 200 day moving average is $77.37. The stock has a market capitalization of $27.89 billion, a PE ratio of 1,316.20, a price-to-earnings-growth ratio of 1.72 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.12 and a quick ratio of 3.12.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, October 28th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. CoStar Group had a net margin of 0.66% and a return on equity of 2.45%. The firm had revenue of $833.60 million during the quarter, compared to analyst estimates of $823.62 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, January 7th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About CoStar Group

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.