Quantbot Technologies LP Buys Shares of 143,468 CoStar Group, Inc. (NASDAQ:CSGP)

Quantbot Technologies LP purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 143,468 shares of the technology company’s stock, valued at approximately $10,637,000. CoStar Group makes up about 0.5% of Quantbot Technologies LP’s holdings, making the stock its 16th biggest position.

A number of other large investors also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in CoStar Group during the first quarter worth about $31,000. Riverview Trust Co bought a new stake in shares of CoStar Group during the 1st quarter valued at about $35,000. RiverPark Advisors LLC purchased a new position in shares of CoStar Group during the first quarter worth about $37,000. Connectus Wealth LLC increased its position in shares of CoStar Group by 915.0% in the fourth quarter. Connectus Wealth LLC now owns 518,633 shares of the technology company’s stock worth $45,000 after purchasing an additional 467,534 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. bought a new position in shares of CoStar Group in the second quarter worth approximately $49,000. 96.60% of the stock is currently owned by institutional investors.

CoStar Group Trading Up 1.2 %

Shares of CSGP opened at $78.87 on Monday. The stock has a market capitalization of $32.21 billion, a P/E ratio of 108.04, a PEG ratio of 11.56 and a beta of 0.81. CoStar Group, Inc. has a twelve month low of $67.35 and a twelve month high of $100.38. The company has a quick ratio of 9.27, a current ratio of 9.27 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $75.92 and a two-hundred day simple moving average of $82.24.

CoStar Group (NASDAQ:CSGP) last posted its earnings results on Tuesday, July 23rd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. The company had revenue of $677.80 million during the quarter, compared to analyst estimates of $677.18 million. During the same period in the prior year, the business posted $0.27 earnings per share. CoStar Group’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, research analysts anticipate that CoStar Group, Inc. will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CSGP. JPMorgan Chase & Co. raised their price objective on shares of CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. The Goldman Sachs Group dropped their price target on CoStar Group from $108.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird reduced their price objective on CoStar Group from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research report on Wednesday, July 24th. Finally, StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, CoStar Group has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Profile

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.