FORA Capital LLC Makes New Investment in CoStar Group, Inc. (NASDAQ:CSGP)

FORA Capital LLC purchased a new position in CoStar Group, Inc. (NASDAQ:CSGP) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,419 shares of the technology company’s stock, valued at approximately $1,239,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in shares of CoStar Group during the 3rd quarter worth about $40,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of CoStar Group during the 2nd quarter worth about $49,000. Quarry LP bought a new position in CoStar Group during the second quarter valued at about $54,000. Rothschild Investment LLC bought a new position in CoStar Group during the second quarter valued at about $73,000. Finally, Blue Trust Inc. increased its stake in CoStar Group by 493.4% during the second quarter. Blue Trust Inc. now owns 1,080 shares of the technology company’s stock valued at $80,000 after acquiring an additional 898 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.88, for a total transaction of $439,340.00. Following the transaction, the insider now owns 58,798 shares of the company’s stock, valued at approximately $4,696,784.24. This represents a 8.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Klein sold 71,633 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.69, for a total value of $5,350,268.77. Following the transaction, the director now directly owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

CoStar Group Stock Up 2.6 %

NASDAQ CSGP opened at $81.97 on Thursday. The firm has a market cap of $33.60 billion, a PE ratio of 186.30 and a beta of 0.82. CoStar Group, Inc. has a one year low of $68.26 and a one year high of $100.38. The stock’s 50 day simple moving average is $75.72 and its 200 day simple moving average is $76.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.63 and a quick ratio of 9.63.

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

Wall Street Analysts Forecast Growth

CSGP has been the topic of several research reports. Royal Bank of Canada lowered CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $96.00 to $83.00 in a research note on Wednesday, October 23rd. JMP Securities restated a “market outperform” rating and set a $90.00 price target on shares of CoStar Group in a research note on Friday, September 6th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of CoStar Group in a research note on Tuesday, November 19th. BMO Capital Markets lowered their price target on 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. Finally, Citigroup lowered their price target on CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. One equities 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.25.

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.