CoStar Group, Inc. (NASDAQ:CSGP) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. boosted its holdings in CoStar Group, Inc. (NASDAQ:CSGP) by 3,803.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,875 shares of the technology company’s stock after purchasing an additional 75,880 shares during the quarter. UMB Bank n.a.’s holdings in CoStar Group were worth $5,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSGP. Crewe Advisors LLC acquired a new position in CoStar Group in the first quarter valued at approximately $31,000. Riverview Trust Co acquired a new position in CoStar Group in the first quarter valued at approximately $35,000. RiverPark Advisors LLC purchased a new stake in CoStar Group in the first quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. purchased a new stake in CoStar Group in the second quarter valued at approximately $49,000. Finally, Quarry LP purchased a new stake in CoStar Group in the second quarter valued at approximately $54,000. 96.60% of the stock is owned by institutional investors and hedge funds.

CoStar Group Trading Down 1.1 %

Shares of CSGP stock opened at $74.83 on Friday. The business’s fifty day moving average price is $75.87 and its 200 day moving average price is $80.45. CoStar Group, Inc. has a 1-year low of $67.35 and a 1-year high of $100.38. The firm has a market capitalization of $30.67 billion, a PE ratio of 141.19 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.27 and a quick ratio of 9.27.

CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data 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 return on equity of 3.99% and a net margin of 8.19%. The firm had revenue of $677.80 million for the quarter, compared to analyst estimates of $677.18 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. CoStar Group’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that CoStar Group, Inc. will post 0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CSGP has been the subject of a number of research reports. Bank of America reduced their price objective on CoStar Group from $111.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on CoStar Group from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. StockNews.com upgraded CoStar Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $96.00 price objective on shares of CoStar Group in a research note on Tuesday, September 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, CoStar Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.38.

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.