Wealth Enhancement Advisory Services LLC Increases Position in CoStar Group, Inc. (NASDAQ:CSGP)

Wealth Enhancement Advisory Services LLC increased its stake in shares of CoStar Group, Inc. (NASDAQ:CSGPFree Report) by 25.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,024 shares of the technology company’s stock after buying an additional 3,008 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in CoStar Group were worth $1,451,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Riverview Trust Co acquired a new position in CoStar Group during the first quarter valued at $35,000. CHICAGO TRUST Co NA lifted its position in CoStar Group by 3.5% during the first quarter. CHICAGO TRUST Co NA now owns 13,810 shares of the technology company’s stock valued at $1,334,000 after purchasing an additional 465 shares during the period. Gulf International Bank UK Ltd lifted its position in CoStar Group by 0.8% during 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 purchasing an additional 271 shares during the period. Meyer Handelman Co. acquired a new position in CoStar Group during the first quarter valued at $266,000. Finally, First National Bank of Mount Dora Trust Investment Services acquired a new position in CoStar Group during the first quarter valued at $1,626,000. 96.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $109.00 target price on shares of CoStar Group in a research report on Friday, June 7th. BMO Capital Markets upped their price objective on shares of CoStar Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. Needham & Company LLC upped their price objective on shares of CoStar Group from $90.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Keefe, Bruyette & Woods upped their price objective on shares of CoStar Group from $96.00 to $109.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of CoStar Group in a research report on Tuesday, June 18th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and an average price target of $102.46.

Read Our Latest Analysis on CoStar Group

CoStar Group Stock Down 0.9 %

Shares of NASDAQ CSGP opened at $73.15 on Friday. CoStar Group, Inc. has a 12-month low of $67.35 and a 12-month high of $100.38. The stock has a market cap of $29.87 billion, a PE ratio of 100.21, a P/E/G ratio of 10.99 and a beta of 0.81. The company has a current ratio of 9.09, a quick ratio of 9.09 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $81.26 and a 200 day moving average of $85.08.

CoStar Group (NASDAQ:CSGPGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. CoStar Group had a net margin of 11.64% and a return on equity of 4.95%. The company had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $649.27 million. As a group, sell-side analysts predict that CoStar Group, Inc. will post 0.45 EPS for the current fiscal year.

Insider Activity at CoStar Group

In other news, insider Michael J. Desmarais sold 3,800 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.67, for a total value of $352,146.00. Following the completion of the sale, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Scott T. Wheeler sold 122,736 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $92.61, for a total transaction of $11,366,580.96. Following the completion of the sale, the chief financial officer now owns 303,417 shares in the company, valued at approximately $28,099,448.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Desmarais sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $92.67, for a total transaction of $352,146.00. Following the sale, the insider now owns 64,087 shares of the company’s stock, valued at approximately $5,938,942.29. The disclosure for this sale can be found here. 1.57% of the stock is owned by corporate insiders.

About CoStar Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CoStar Group (NASDAQ:CSGP)

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