Riverbridge Partners LLC decreased its holdings in CoStar Group Inc (NASDAQ:CSGP) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 287,078 shares of the technology company’s stock after selling 8,519 shares during the quarter. CoStar Group accounts for approximately 2.0% of Riverbridge Partners LLC’s portfolio, making the stock its 10th largest position. Riverbridge Partners LLC’s holdings in CoStar Group were worth $96,843,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. First Hawaiian Bank raised its position in CoStar Group by 28.0% in the 4th quarter. First Hawaiian Bank now owns 833 shares of the technology company’s stock valued at $281,000 after purchasing an additional 182 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of CoStar Group in the 4th quarter valued at $169,000. Cornerstone Advisors Inc. increased its stake in shares of CoStar Group by 20.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 206 shares of the technology company’s stock valued at $87,000 after buying an additional 35 shares during the period. Marshall Wace North America L.P. increased its stake in shares of CoStar Group by 16.4% in the 3rd quarter. Marshall Wace North America L.P. now owns 548,194 shares of the technology company’s stock valued at $230,702,000 after buying an additional 77,373 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of CoStar Group by 289.5% in the 3rd quarter. Marshall Wace LLP now owns 22,073 shares of the technology company’s stock valued at $9,289,000 after buying an additional 16,406 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised CoStar Group from a “hold” rating to a “buy” rating and set a $401.00 target price for the company in a research note on Friday, October 26th. BidaskClub raised CoStar Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, ValuEngine cut CoStar Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $451.44.
Shares of CoStar Group stock traded up $0.13 during trading on Monday, reaching $359.40. 10,141 shares of the company were exchanged, compared to its average volume of 183,050. CoStar Group Inc has a twelve month low of $315.85 and a twelve month high of $448.35. The stock has a market cap of $12.87 billion, a PE ratio of 92.73, a price-to-earnings-growth ratio of 2.41 and a beta of 1.45.
CoStar Group (NASDAQ:CSGP) last announced its quarterly earnings data on Tuesday, October 23rd. The technology company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.08. CoStar Group had a return on equity of 7.63% and a net margin of 17.61%. The business had revenue of $305.53 million during the quarter, compared to analysts’ expectations of $305.99 million. During the same period in the previous year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, research analysts predict that CoStar Group Inc will post 7.13 earnings per share for the current fiscal year.
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CoStar Group Profile
CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.
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