Brown Brothers Harriman & Co. boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 881.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,630 shares of the technology company’s stock after purchasing an additional 12,241 shares during the period. Brown Brothers Harriman & Co.’s holdings in CoStar Group were worth $1,129,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CSGP. Reilly Financial Advisors LLC increased its holdings in CoStar Group by 900.0% in the 2nd quarter. Reilly Financial Advisors LLC now owns 300 shares of the technology company’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Strategic Blueprint LLC purchased a new position in CoStar Group in the 2nd quarter valued at about $27,000. Jacobi Capital Management LLC boosted its position in CoStar Group by 1,150.0% in the 2nd quarter. Jacobi Capital Management LLC now owns 350 shares of the technology company’s stock valued at $29,000 after buying an additional 322 shares during the last quarter. PNC Managed Account Solutions Inc. purchased a new position in CoStar Group in the 2nd quarter valued at about $30,000. Finally, McIlrath & Eck LLC boosted its position in CoStar Group by 900.0% in the 2nd quarter. McIlrath & Eck LLC now owns 380 shares of the technology company’s stock valued at $31,000 after buying an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.
Several equities analysts have recently commented on the stock. Stephens assumed coverage on shares of CoStar Group in a research report on Wednesday, July 21st. They set a “buy” rating on the stock. Truist reduced their price target on shares of CoStar Group from $107.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, July 28th. Finally, Zacks Investment Research raised shares of CoStar Group from a “sell” rating to a “hold” rating in a research report on Friday, July 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, CoStar Group has an average rating of “Buy” and a consensus target price of $24.59.
CSGP opened at $89.38 on Thursday. The stock has a fifty day moving average of $86.38 and a 200-day moving average of $51.59. The firm has a market capitalization of $35.30 billion, a P/E ratio of 152.27, a PEG ratio of 4.82 and a beta of 0.88. The company has a quick ratio of 11.62, a current ratio of 11.62 and a debt-to-equity ratio of 0.18. CoStar Group, Inc. has a 12-month low of $74.31 and a 12-month high of $95.28.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings results on Monday, July 26th. The technology company reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. CoStar Group had a return on equity of 6.72% and a net margin of 12.68%. The business had revenue of $480.33 million during the quarter, compared to analysts’ expectations of $469.88 million. During the same quarter in the previous year, the business posted $2.53 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts expect that CoStar Group, Inc. will post 0.94 earnings per share for the current fiscal year.
CoStar Group Profile
CoStar Group, Inc provides commercial real estate information, analytics, and online marketplaces to the commercial real estate and related business communities. The firm’s suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values and market conditions.
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