Brooklyn Investment Group Acquires Shares of 1,200 CoStar Group, Inc. (NASDAQ:CSGP)

Brooklyn Investment Group bought a new position in CoStar Group, Inc. (NASDAQ:CSGP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,200 shares of the technology company’s stock, valued at approximately $91,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. D.A. Davidson & CO. lifted its holdings in CoStar Group by 11.9% in the third quarter. D.A. Davidson & CO. now owns 27,914 shares of the technology company’s stock valued at $2,106,000 after acquiring an additional 2,966 shares during the period. West Tower Group LLC acquired a new position in shares of CoStar Group in the 3rd quarter valued at $302,000. The Manufacturers Life Insurance Company boosted its holdings in CoStar Group by 2.9% during the third quarter. The Manufacturers Life Insurance Company now owns 289,470 shares of the technology company’s stock worth $21,838,000 after buying an additional 8,169 shares in the last quarter. Harvest Fund Management Co. Ltd grew its position in CoStar Group by 52.7% during the third quarter. Harvest Fund Management Co. Ltd now owns 18,878 shares of the technology company’s stock valued at $1,424,000 after buying an additional 6,517 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its holdings in CoStar Group by 1.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock valued at $1,443,000 after buying an additional 209 shares in the last quarter. 96.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CoStar Group news, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total value of $5,350,268.77. Following the transaction, the director now owns 1,913,501 shares of the company’s stock, valued at $142,919,389.69. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were bought at an average price of $74.67 per share, with a total value of $1,099,963.77. Following the completion of the transaction, the chief executive officer now owns 1,263,098 shares of the company’s stock, valued at approximately $94,315,527.66. The trade was a 1.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.57% of the stock is owned by company insiders.

CoStar Group Trading Up 2.6 %

Shares of CoStar Group stock opened at $81.97 on Friday. CoStar Group, Inc. has a 1-year low of $68.26 and a 1-year high of $100.38. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63. The stock has a market cap of $33.60 billion, a P/E ratio of 186.30 and a beta of 0.82. The stock’s 50 day simple moving average is $75.78 and its 200-day simple moving average is $76.71.

CoStar Group (NASDAQ:CSGP) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. CoStar Group had a return on equity of 3.53% and a net margin of 6.57%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period in the prior year, the business earned $0.25 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Analysts predict that CoStar Group, Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $90.00 target price on shares of CoStar Group in a research note on Friday, September 6th. StockNews.com cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of CoStar Group in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.25.

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.