Generate Investment Management Ltd Makes New $4.69 Million Investment in CoStar Group, Inc. (NASDAQ:CSGP)

Generate Investment Management Ltd acquired a new position in shares of CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 62,143 shares of the technology company’s stock, valued at approximately $4,688,000.

Other hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in CoStar Group during the fourth quarter valued at approximately $330,000. HighPoint Advisor Group LLC bought a new position in shares of CoStar Group in the 4th quarter valued at $340,000. GAMMA Investing LLC raised its holdings in shares of CoStar Group by 44.0% during the 1st quarter. GAMMA Investing LLC now owns 2,592 shares of the technology company’s stock worth $250,000 after buying an additional 792 shares in the last quarter. Meyer Handelman Co. bought a new stake in shares of CoStar Group during the 1st quarter worth $266,000. Finally, Gulf International Bank UK Ltd boosted its stake in CoStar Group by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 33,743 shares of the technology company’s stock valued at $3,259,000 after buying an additional 271 shares in the last quarter. 96.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSGP has been the subject of several research analyst reports. The Goldman Sachs Group lowered their target price 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. JMP Securities reissued a “market outperform” rating and issued a $90.00 price objective on shares of CoStar Group in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and issued a $107.00 target price on shares of CoStar Group in a research report on Tuesday, September 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $96.00 price target on shares of CoStar Group in a report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods cut their price objective on CoStar Group from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.38.

CoStar Group Stock Up 1.2 %

CoStar Group stock opened at $79.25 on Friday. The firm has a 50 day moving average price of $76.29 and a two-hundred day moving average price of $79.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.27 and a current ratio of 9.27. CoStar Group, Inc. has a 52-week low of $67.35 and a 52-week high of $100.38. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 149.53 and a beta of 0.81.

CoStar Group (NASDAQ:CSGP) last announced 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. The business had revenue of $677.80 million during the quarter, compared to the consensus estimate of $677.18 million. CoStar Group had a net margin of 8.19% and a return on equity of 3.99%. CoStar Group’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Equities analysts predict that CoStar Group, Inc. will post 0.49 EPS for the current year.

CoStar Group Company 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.