Telemus Capital LLC Decreases Stake in CoStar Group, Inc. (NASDAQ:CSGP)

Telemus Capital LLC lowered its position in CoStar Group, Inc. (NASDAQ:CSGP) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,304 shares of the technology company’s stock after selling 1,159 shares during the quarter. Telemus Capital LLC’s holdings in CoStar Group were worth $638,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of CoStar Group by 125.4% during the 4th quarter. Blue Trust Inc. now owns 311 shares of the technology company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Pinnacle Bancorp Inc. purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $37,000. CVA Family Office LLC purchased a new stake in shares of CoStar Group during the 4th quarter worth approximately $60,000. KB Financial Partners LLC lifted its position in shares of CoStar Group by 17.9% during the 3rd quarter. KB Financial Partners LLC now owns 818 shares of the technology company’s stock worth $63,000 after buying an additional 124 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of CoStar Group by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 1,224 shares of the technology company’s stock worth $107,000 after buying an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on CSGP shares. Royal Bank of Canada boosted their price objective on shares of CoStar Group from $95.00 to $109.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Needham & Company LLC reduced their price objective on shares of CoStar Group from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Jefferies Financial Group boosted their price objective on shares of CoStar Group from $85.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Bank of America lifted their target price on shares of CoStar Group from $97.00 to $111.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, BMO Capital Markets lifted their target price on shares of CoStar Group from $79.00 to $84.00 and gave the company a “market perform” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.50.

CoStar Group Stock Performance

Shares of CSGP opened at $85.31 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.01 and a current ratio of 12.01. The stock has a market capitalization of $34.84 billion, a P/E ratio of 92.73, a P/E/G ratio of 9.69 and a beta of 0.84. The company’s fifty day moving average is $89.15 and its two-hundred day moving average is $84.56. CoStar Group, Inc. has a 1 year low of $67.35 and a 1 year high of $100.38.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.27 million. CoStar Group had a net margin of 15.26% and a return on equity of 6.08%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. On average, sell-side analysts predict that CoStar Group, Inc. will post 0.44 earnings per share for the current year.

About CoStar Group

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