GW&K Investment Management LLC boosted its position in CoStar Group Inc. (NASDAQ:CSGP) by 17.8% during the second quarter, Holdings Channel reports. The firm owned 72,626 shares of the company’s stock after buying an additional 10,982 shares during the period. GW&K Investment Management LLC’s holdings in CoStar Group were worth $15,880,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacad Investment Ltd. bought a new position in CoStar Group during the first quarter worth about $263,000. Parametrica Management Ltd bought a new position in CoStar Group during the second quarter worth about $403,000. Seven Eight Capital LLC bought a new position in CoStar Group during the first quarter worth about $414,000. Diversified Trust Co bought a new position in CoStar Group during the second quarter worth about $501,000. Finally, Bank of Montreal Can bought a new position in CoStar Group during the second quarter worth about $571,000.
CoStar Group Inc. (NASDAQ:CSGP) traded up 1.14% on Wednesday, reaching $222.31. 255,890 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $210.71 and its 200 day moving average price is $203.27. The company has a market cap of $7.25 billion, a PE ratio of 143.24 and a beta of 1.18. CoStar Group Inc. has a 12 month low of $146.53 and a 12 month high of $224.79.
CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The firm earned $207 million during the quarter, compared to analyst estimates of $205.66 million. CoStar Group had a return on equity of 5.74% and a net margin of 6.33%. CoStar Group’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, equities analysts expect that CoStar Group Inc. will post $4.11 EPS for the current fiscal year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of CoStar Group from a “hold” rating to a “buy” rating and set a $230.00 target price on the stock in a research report on Monday, August 1st. JMP Securities boosted their target price on shares of CoStar Group from $215.00 to $230.00 and gave the company a “market outperform” rating in a research report on Thursday, July 28th. B. Riley reiterated a “buy” rating and set a $235.00 target price on shares of CoStar Group in a research report on Tuesday, July 26th. Needham & Company LLC assumed coverage on shares of CoStar Group in a research report on Monday, August 22nd. They set a “buy” rating and a $240.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of CoStar Group from $229.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $236.20.
In other news, Director Michael J. Glosserman sold 5,000 shares of CoStar Group stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $206.33, for a total value of $1,031,650.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.98% of the stock is owned by insiders.
About CoStar Group
CoStar Group, Inc (CoStar) is a provider of information, analytics and online marketplaces to the commercial real estate industry. It manages its business through two segments: North America, which includes the United States and parts of Canada, and International, which includes parts of the United Kingdom, Spain and France.
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