CoStar Group, Inc. (NASDAQ:CSGP) Short Interest Update

CoStar Group, Inc. (NASDAQ:CSGPGet Rating) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 3,710,000 shares, a decline of 34.7% from the March 31st total of 5,680,000 shares. Based on an average trading volume of 2,690,000 shares, the short-interest ratio is presently 1.4 days.

Institutional investors have recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of CoStar Group by 910.0% during the third quarter. Assetmark Inc. now owns 303 shares of the technology company’s stock worth $26,000 after buying an additional 273 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of CoStar Group by 73.7% during the fourth quarter. Lindbrook Capital LLC now owns 330 shares of the technology company’s stock worth $26,000 after buying an additional 140 shares in the last quarter. Liberty Wealth Management LLC lifted its stake in CoStar Group by 471.7% during the third quarter. Liberty Wealth Management LLC now owns 343 shares of the technology company’s stock worth $29,000 after purchasing an additional 283 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in CoStar Group during the third quarter worth approximately $34,000. Finally, Ten Capital Wealth Advisors LLC purchased a new stake in CoStar Group during the fourth quarter worth approximately $37,000. 94.72% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on CSGP. Citigroup raised their price objective on CoStar Group from $65.00 to $70.00 in a research report on Wednesday. StockNews.com began coverage on CoStar Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. William Blair reissued an “outperform” rating on shares of CoStar Group in a research report on Wednesday, February 23rd. Truist Financial cut their price objective on CoStar Group from $110.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Finally, TheStreet downgraded CoStar Group from a “b-” rating to a “c” rating in a research report on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, CoStar Group presently has a consensus rating of “Buy” and a consensus target price of $80.11.

NASDAQ CSGP opened at $63.62 on Friday. The company has a market cap of $25.13 billion, a P/E ratio of 80.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 11.77 and a quick ratio of 11.78. The stock has a 50-day moving average of $62.35 and a two-hundred day moving average of $72.73. CoStar Group has a 1-year low of $49.00 and a 1-year high of $101.05.

CoStar Group (NASDAQ:CSGPGet Rating) last released its earnings results on Tuesday, April 26th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. CoStar Group had a return on equity of 7.31% and a net margin of 15.37%. During the same period in the prior year, the company posted $0.25 earnings per share. On average, analysts anticipate that CoStar Group will post 0.86 EPS for the current fiscal year.

About CoStar Group (Get Rating)

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. It offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar COMPS, 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.

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