Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in CoStar Group, Inc. $CSGP

Mirae Asset Global Investments Co. Ltd. bought a new stake in CoStar Group, Inc. (NASDAQ:CSGP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 103,864 shares of the technology company’s stock, valued at approximately $2,846,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Red Spruce Capital LLC increased its holdings in shares of CoStar Group by 101.0% in the second quarter. Red Spruce Capital LLC now owns 76,448 shares of the technology company’s stock valued at $2,165,000 after purchasing an additional 38,413 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of CoStar Group by 176.9% during the 2nd quarter. Tidal Investments LLC now owns 68,552 shares of the technology company’s stock worth $1,941,000 after buying an additional 43,798 shares during the last quarter. Odyssean LLC bought a new stake in shares of CoStar Group during the 2nd quarter worth about $2,564,000. Oppenheimer Asset Management Inc. bought a new stake in shares of CoStar Group during the 2nd quarter worth about $7,516,000. Finally, Nykredit A S acquired a new position in CoStar Group in the 2nd quarter valued at about $11,370,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CSGP has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $33.00 price objective (up from $31.00) on shares of CoStar Group in a report on Monday, August 24th. Wolfe Research reissued an “outperform” rating and set a $32.00 target price (down from $35.00) on shares of CoStar Group in a report on Wednesday, July 29th. Royal Bank Of Canada set a $34.00 target price on shares of CoStar Group and gave the company a “sector perform” rating in a research report on Monday, July 13th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of CoStar Group in a research note on Wednesday, October 28th. Finally, Wall Street Zen lowered shares of CoStar Group from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, CoStar Group currently has a consensus rating of “Hold” and a consensus price target of $39.11.

CoStar Group Trading Down 4.7%

NASDAQ CSGP traded down $1.50 during trading hours on Friday, reaching $30.55. The company’s stock had a trading volume of 7,688,185 shares, compared to its average volume of 6,549,700. The firm has a fifty day simple moving average of $30.27 and a 200-day simple moving average of $36.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.32 and a quick ratio of 1.32. CoStar Group, Inc. has a 52 week low of $25.89 and a 52 week high of $70.57. The stock has a market cap of $12.29 billion, a P/E ratio of 69.43, a P/E/G ratio of 0.81 and a beta of 0.79.

CoStar Group (NASDAQ:CSGP) last issued its quarterly earnings results on Tuesday, October 27th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $952.00 million for the quarter, compared to the consensus estimate of $945.82 million. During the same quarter in the previous year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts forecast that CoStar Group, Inc. will post 1.12 earnings per share for the current fiscal year.

CoStar Group Company Profile

CoStar Group, Inc is a provider of information, analytics, and online marketplaces for the commercial and residential real estate industries. The company collects, analyzes, and distributes property and market data to real estate professionals, investors, lenders, and other businesses.

Its brands and services include CoStar, which offers commercial real estate data and research; LoopNet, a marketplace for commercial property listings; Apartments.com, a rental housing marketplace; and Homes.com, a residential real estate platform.