Entropy Technologies LP Raises Stock Position in CoStar Group, Inc. $CSGP

Entropy Technologies LP boosted its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 194.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,653 shares of the technology company’s stock after purchasing an additional 25,532 shares during the period. Entropy Technologies LP’s holdings in CoStar Group were worth $1,559,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Reflection Asset Management bought a new stake in shares of CoStar Group in the fourth quarter worth $27,000. Lloyd Advisory Services LLC. bought a new stake in shares of CoStar Group during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of CoStar Group by 25,650.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 515 shares of the technology company’s stock valued at $43,000 after purchasing an additional 513 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of CoStar Group during the 3rd quarter valued at about $48,000. Finally, DV Equities LLC bought a new position in shares of CoStar Group in the 4th quarter worth approximately $40,000. 96.60% of the stock is currently owned by hedge funds and other institutional investors.

CoStar Group Price Performance

NASDAQ CSGP opened at $29.17 on Tuesday. CoStar Group, Inc. has a 12 month low of $26.68 and a 12 month high of $97.43. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 486.25, a PEG ratio of 0.71 and a beta of 0.74. The company’s 50 day moving average is $30.90 and its two-hundred day moving average is $40.87. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 0.13.

CoStar Group (NASDAQ:CSGP) last posted its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $897.00 million during the quarter, compared to analyst estimates of $896.73 million. CoStar Group had a net margin of 0.74% and a return on equity of 2.90%. The company’s revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. As a group, research analysts anticipate that CoStar Group, Inc. will post 1.03 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on CSGP. Benchmark assumed coverage on shares of CoStar Group in a research report on Thursday, June 4th. They set a “buy” rating and a $45.00 target price for the company. Robert W. Baird set a $34.00 price target on shares of CoStar Group and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods dropped their price target on shares of CoStar Group from $50.00 to $41.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen raised shares of CoStar Group from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Bank of America reduced their price objective on CoStar Group from $42.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, May 19th. Twelve research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.50.

Insider Buying and Selling at CoStar Group

In other news, CEO Andrew C. Florance bought 71,430 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $35.20 per share, for a total transaction of $2,514,336.00. Following the purchase, the chief executive officer owned 1,722,865 shares in the company, valued at $60,644,848. This represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.18% of the company’s stock.

CoStar Group Profile

CoStar Group, Inc is a provider of information, analytics and online marketplaces for the commercial real estate industry. The company gathers property-level data, builds market analytics and supplies research tools used by brokers, owners, lenders, investors and other real estate professionals to evaluate markets, track inventory and manage listings. CoStar’s offerings are delivered primarily through subscription-based platforms that combine proprietary databases, mapping and workflow applications to support decision-making across the property life cycle.

In addition to its core CoStar research service, the company operates prominent online listing and marketing platforms that connect buyers, sellers, tenants and brokers.