CoStar Group, Inc. (NASDAQ:CSGP) Holdings Boosted by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,616 shares of the technology company’s stock after acquiring an additional 32,290 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CoStar Group were worth $24,036,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in CoStar Group during the 1st quarter valued at approximately $31,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the second quarter valued at approximately $49,000. Quarry LP bought a new stake in CoStar Group during the second quarter worth approximately $54,000. Covestor Ltd lifted its position in CoStar Group by 43.0% in the first quarter. Covestor Ltd now owns 702 shares of the technology company’s stock worth $68,000 after purchasing an additional 211 shares during the period. Finally, Rothschild Investment LLC bought a new position in CoStar Group during the 2nd quarter valued at $73,000. 96.60% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michael R. Klein sold 71,633 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares in the company, valued at $142,919,389.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Andrew C. Florance purchased 14,731 shares of the company’s stock in a transaction on Friday, October 25th. The shares were purchased at an average cost 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 $94,315,527.66. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now directly owns 1,913,501 shares of the company’s stock, valued at approximately $142,919,389.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Robert W. Baird decreased their target price on CoStar Group from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Bank of America dropped their price target on CoStar Group from $111.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets reduced their price objective on CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

CoStar Group Stock Performance

CoStar Group stock traded up $0.69 during mid-day trading on Thursday, reaching $75.56. The company had a trading volume of 70,617 shares, compared to its average volume of 2,365,508. The company has a quick ratio of 9.63, a current ratio of 9.63 and a debt-to-equity ratio of 0.13. The firm has a market cap of $30.98 billion, a price-to-earnings ratio of 170.16 and a beta of 0.82. CoStar Group, Inc. has a 52 week low of $68.26 and a 52 week high of $100.38. The company has a 50 day moving average of $76.07 and a 200-day moving average of $78.13.

CoStar Group (NASDAQ:CSGP) last released its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share 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 firm had revenue of $692.60 million for the quarter, compared to analyst estimates of $695.91 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company’s quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that CoStar Group, Inc. will post 0.52 EPS for the current fiscal 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.